TherapeuticsMD (TXMD) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity File Number	001-00100
Entity Registrant Name	THERAPEUTICSMD, INC.
Entity Central Index Key	0000025743
Entity Tax Identification Number	87-0233535
Entity Incorporation State Country Code	NV
Entity Address, Address Line One	951 Yamato Road
Entity Address, Address Line Two	Suite 220
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address Postal Zip Code	33431
City Area Code	561
Local Phone Number	961-1900
Security 12b Title	Common Stock, par value $0.001 per share
Trading Symbol	TXMD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		271,683,266

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash	$ 170,097,813	$ 160,829,713
Accounts receivable, net of allowance for doubtful accounts of $781,419 and $904,040, respectively	20,664,009	24,395,958
Inventory	14,607,453	11,860,716
Other current assets	6,618,367	11,329,793
Total current assets	211,987,642	208,416,180
Fixed assets, net	2,330,190	2,507,775
Other Assets:
License rights, net	38,475,797	39,221,308
Intangible assets, net	5,616,832	5,258,211
Right of use assets	9,757,167	10,109,154
Other assets	473,009	473,009
Total other assets	54,322,805	55,061,682
Total assets	268,640,637	265,985,637
Current Liabilities:
Accounts payable	28,714,327	19,181,212
Other current liabilities	32,924,485	33,823,613
Total current liabilities	61,638,812	53,004,825
Long-Term Liabilities:
Long-term debt	243,428,671	194,634,643
Operating lease liability	8,782,274	9,145,049
Total long-term liabilities	252,210,945	203,779,692
Total liabilities	313,849,757	256,784,517
Stockholders' (Deficit) Equity:
Preferred stock - par value $0.001; 10,000,000 shares authorized; no shares issued and outstanding
Common stock - par value $0.001; 350,000,000 shares authorized: 271,677,742 and 271,177,076 issued and outstanding, respectively	271,678	271,177
Additional paid-in capital	706,789,283	704,351,222
Accumulated deficit	(752,270,081)	(695,421,279)
Total stockholders' (deficit) equity	(45,209,120)	9,201,120
Total liabilities and stockholders' equity	$ 268,640,637	$ 265,985,637

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 781,419	$ 904,040
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	350,000,000	350,000,000
Common Stock, Shares, Issued	271,677,742	271,177,076
Common Stock, Shares, Outstanding	271,677,742	271,177,076

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Product revenue, net	$ 12,250,657	$ 3,946,651
Cost of goods sold	2,715,051	762,827
Gross profit	9,535,606	3,183,824
Operating expenses:
Sales, general, and administrative	56,927,021	34,864,082
Research and development	3,268,829	6,317,882
Depreciation and amortization	261,994	106,938
Total operating expenses	60,457,844	41,288,902
Operating loss	(50,922,238)	(38,105,078)
Other income (expense)
Miscellaneous income	335,482	688,721
Interest expense	(6,262,046)	(2,090,018)
Total other expense	(5,926,564)	(1,401,297)
Loss before income taxes	(56,848,802)	(39,506,375)
Provision for income taxes
Net loss	$ (56,848,802)	$ (39,506,375)
Loss per share, basic and diluted:
Net loss per share, basic and diluted	$ (0.21)	$ (0.16)
Weighted average number of common shares outstanding, basic and diluted	271,459,522	241,006,032

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2018	$ 240,463	$ 616,559,938	$ (519,276,280)	$ 97,524,121
Beginning balance, shares at Dec. 31, 2018	240,462,439
Shares issued for exercise of options and warrants, net	$ 759	99,348		100,107
Shares issued for exercise of options and warrants, net (in shares)	759,401
Share-based compensation		2,575,369		2,575,369
Net loss			(39,506,375)	(39,506,375)
Ending balance, value at Mar. 31, 2019	$ 241,222	619,234,655	(558,782,655)	60,693,222
Ending balance, shares at Mar. 31, 2019	241,221,840
Beginning balance, value at Dec. 31, 2019	$ 271,177	704,351,222	(695,421,279)	$ 9,201,120
Beginning balance, shares at Dec. 31, 2019	271,177,076			271,177,076
Share-based compensation		2,366,453		$ 2,366,453
Net loss			(56,848,802)	(56,848,802)
Ending balance, value at Mar. 31, 2020	$ 271,678	706,789,283	(752,270,081)	$ (45,209,120)
Ending balance, shares at Mar. 31, 2020	271,677,742			271,677,742
Shares issued for exercise of options, net	$ 351	71,758		$ 72,109
Shares issued for exercise of options, net (in shares)	350,666
Issuance of shares from release of restricted stock	$ 150	$ (150)
Issuance of shares from release of restricted stock (in shares)	150,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (56,848,802)	$ (39,506,375)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of fixed assets	198,839	66,494
Amortization of intangible assets	63,155	40,444
Non-cash operating lease expense	351,987	219,765
(Recovery of) provision for doubtful accounts	(122,621)	82,284
Share-based compensation	2,366,453	2,586,948
Amortization of deferred financing fees	319,408	120,146
Amortization of license fee	745,511
Changes in operating assets and liabilities:
Accounts receivable	3,854,569	(3,963,214)
Inventory	(2,746,737)	(1,688,045)
Other current assets	4,436,047	987,794
Accounts payable	9,533,115	2,621,402
Accrued expenses and other current liabilities	(1,261,904)	268,939
Net cash used in operating activities	(39,110,980)	(38,163,418)
CASH FLOWS FROM INVESTING ACTIVITIES
Patent costs	(421,775)	(403,496)
Purchase of fixed assets	(21,254)	(262,418)
Net cash used in investing activities	(443,029)	(665,914)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of options and warrants	72,109	100,107
Proceeds from Financing Agreement	50,000,000
Payment of deferred financing fees	(1,250,000)
Net cash provided by financing activities	48,822,109	100,107
Increase (decrease) in cash	9,268,100	(38,729,225)
Cash, beginning of period	160,829,713	161,613,077
Cash, end of period	170,097,813	122,883,852
Supplemental disclosure of cash flow information
Interest paid	$ 5,892,639	$ 1,913,956

NOTE 1 _ THE COMPANY

NOTE 1 – THE COMPANY	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 1 – THE COMPANY	NOTE 1 – THE COMPANY TherapeuticsMD, Inc., a Nevada corporation, or TherapeuticsMD or the Company, has three ® ® ® ® ® Nature of Business We are a women’s healthcare company with a mission of creating and commercializing innovative products to support the lifespan of women from pregnancy prevention through menopause. At TherapeuticsMD, we combine entrepreneurial spirit, clinical expertise, and business leadership to develop and commercialize health solutions that enable new standards of care for women. Our solutions range from a patient-controlled, long-lasting contraceptive to advanced hormone therapy pharmaceutical products. We also manufacture and distribute branded and generic prescription prenatal vitamins under the vitaMedMD and BocaGreenMD brands. Our portfolio of products focused on women’s health allows us to efficiently leverage our sales and marketing plan to grow our recently approved products. During 2018, the U.S. Food and Drug Administration, or FDA, approval of our pharmaceutical products has transitioned our company from predominately focused on conducting research and development to one focused on commercializing our pharmaceutical products. In July 2018, we launched our FDA-approved product, IMVEXXY (estradiol vaginal inserts) for the treatment of moderate-to-severe dyspareunia (vaginal pain associated with sexual activity), a symptom of vulvar and vaginal atrophy, or VVA, due to menopause. In April 2019, we launched our FDA-approved product BIJUVA (estradiol and progesterone) capsules, our hormone therapy combination of bio-identical 17ß-estradiol and bio-identical progesterone in a single, oral softgel capsule, for the treatment of moderate-to-severe vasomotor symptoms, or VMS, due to menopause in women with a uterus. In October 2019, we began a test and learn market introduction for our FDA-approved product ANNOVERA (segesterone acetate and ethinyl estradiol vaginal system), the first and only patient-controlled, procedure-free, reversible prescription contraceptive option for women. Although we expected to commence the full commercial launch of ANNOVERA in the first quarter of 2020, as a result of the uncertainty surrounding the COVID-19 pandemic, we paused the commercial launch of ANNOVERA and deferred sales and marketing initiatives into subsequent quarters as the pandemic began to negatively affect our revenue growth. On July 30, 2018, we entered into an exclusive license agreement, or the Population Council License Agreement, with the Population Council, Inc., or the Population Council, to commercialize ANNOVERA in the U.S. In addition, on July 30, 2018, we entered into a license and supply agreement, or the Knight License Agreement, with Knight Therapeutics Inc., or Knight, pursuant to which we granted Knight an exclusive license to commercialize IMVEXXY and BIJUVA in Canada and Israel. On June 6, 2019, we entered into an exclusive license and supply agreement, or the Theramex License Agreement, with Theramex HQ UK Limited, or Theramex, to commercialize BIJUVA and IMVEXXY outside of the U.S., excluding Canada and Israel, or the Theramex Territory.

NOTE 2 _ BASIS OF PRESENTATION

NOTE 2 – BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
NOTE 2 – BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	NOTE 2 – BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Interim Financial Statements The accompanying unaudited interim consolidated financial statements of TherapeuticsMD, Inc., which include our wholly owned subsidiaries, should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the Securities and Exchange Commission, or the SEC, from which we derived the accompanying consolidated balance sheet as of December 31, 2019. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, since they are interim statements, the accompanying unaudited interim consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accompanying unaudited interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of our management, necessary to a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year or any other interim period in the future. Risks and Uncertainties We are subject to risks and uncertainties as a result of the COVID-19 pandemic. The extent of the impact of the COVID-19 pandemic on our business is highly uncertain and difficult to predict, as the response to the pandemic is in its incipient stages and information is rapidly evolving. At this time, we continue to provide an uninterrupted supply of our portfolio of products for patients. Additionally, we currently do not foresee any interruption in our ability to continue to manufacture additional product to be used beyond this period and have sufficient active pharmaceutical ingredients on hand for the continued manufacture of our products. We have activated virtual options to ensure business continuity. Our VitaCare Prescription Services patient model assists patients in obtaining easy and convenient access to their prescriptions for products at a retail pharmacy of their choice, including via home delivery retail pharmacy options. We have also partnered with independent community pharmacies and multiple third-party online pharmacies and telemedicine providers that focus on contraception or menopause to ensure patients have real-time access to both diagnosis and treatment. We continue to support prescribers’ needs with samples and product materials through our sales force. If access is restricted, we currently have mailing options in place for these materials. We also have business continuity plans and infrastructure in place that allows for virtual detailing. We have also implemented measures to cut planned marketing expenses for 2020. However, we have the ability to re-accelerate our planned marketing spend for ANNOVERA and IMVEXXY should market conditions improve, or to extend or expand the cost cuts throughout 2020. We have also implemented cost savings which include negotiating lower fees or suspending services from third party vendors; implementing a company-wide hiring freeze; delaying or cancelling non-critical IT projects; and eliminating travel, entertainment, meeting, and event expenses. These savings can be extended further throughout 2020 or expanded depending on the impact of the COVID-19 pandemic. We already have sufficient inventory of finished product in our warehouses to meet anticipated demand through at least early third quarter of 2020. However, capital markets and economies worldwide have also been negatively impacted by the COVID-19 pandemic, and it is possible that it could cause a local and/or global economic recession. Such economic disruption could have a material adverse effect on our business. Policymakers globally have responded with fiscal policy actions to support the healthcare industry and economy as a whole. The magnitude and overall effectiveness of these actions remains uncertain. The severity of the impact of the COVID-19 pandemic on our business will depend on a number of factors, including, but not limited to, the duration and severity of the pandemic and the extent and severity of the impact on our customers, all of which are uncertain and cannot be predicted. Our future results of operations and liquidity could be adversely impacted by delays in payments of outstanding receivable amounts beyond normal payment terms, supply chain disruptions and uncertain demand, and the impact of any initiatives or programs that we may undertake to address financial and operations challenges that we may face. As of the date of issuance of these condensed consolidated financial statements, the extent to which the COVID-19 pandemic may materially impact our financial condition, liquidity, or results of operations is uncertain. Recently Issued Accounting Pronouncements In August 2018, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2018-13 which eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies some disclosure requirements. The FASB developed the amendments to Accounting Standards Codification, or ASC, 820 as part of its broader disclosure framework project, which aims to improve the effectiveness of disclosures in the notes to financial statements by focusing on requirements that clearly communicate the most important information to users of the financial statements. The new guidance is effective for all entities for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years. An entity is permitted to early adopt either the entire standard or only the provisions that eliminate or modify requirements. We adopted this standard on January 1, 2020 and the adoption did not have a material effect on our disclosures for the three months ended March 31, 2020. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected based on historical experience, current conditions, and reasonable supportable forecasts. The amendments in this update are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted no sooner than the first quarter of 2019. A modified retrospective approach is required for all investments, except debt securities for which an other-than-temporary impairment had been recognized prior to the effective date, which will require a prospective transition approach and should be applied either prospectively or retrospectively depending on the nature of the disclosure. The adoption of ASU 2016-13 requires expanded quantitative and qualitative disclosures about the Company’s expected credit losses. Effective January 1, 2020, we adopted ASU 2016-13 under a modified retrospective approach for all financial assets measured at amortized cost. There was no adjustment recorded for the cumulative effect of adopting ASU 2016-13. The adoption expanded disclosures about our credit losses. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants and the SEC did not, and are not expected to, have a material effect on our results of operations or financial position.

NOTE 3 _ SUMMARY OF SIGNIFICANT

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Trade Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are customer obligations due under normal trade terms. We review accounts receivable for uncollectible accounts and credit card chargebacks and provide an allowance for doubtful accounts, which is based upon a review of outstanding receivables, historical collection information, reasonable supportable forecasts and existing economic conditions and we record an allowance that presents the net amount expected to be collected. We evaluate trade accounts receivable for delinquency. We write off delinquent receivables against our allowance for doubtful accounts based on individual credit evaluations, the results of collection efforts, and specific circumstances of customers. We record recoveries of accounts previously written off when received as an increase in the allowance for doubtful accounts. To the extent data we use to calculate these estimates does not accurately reflect bad debts, adjustments to these reserves may be required. Our exposure to credit losses may increase if our customers are adversely affected by changes in healthcare laws, coverage, and reimbursement, economic pressures or uncertainty associated with local or global economic recessions, disruption associated with the current COVID-19 pandemic, or other customer-specific factors. Although we have historically not experienced significant credit losses, it is possible that there could be a material adverse impact from potential adjustments of the carrying amount of trade receivables in the future. Fair Value of Financial Instruments Our financial instruments consist primarily of cash, accounts receivable, accounts payable, accrued expenses and long-term debt. The carrying amount of cash, accounts receivable, accounts payable and accrued expenses approximates their fair value because of the short-term maturity of such instruments, which are considered Level 1 assets under the fair value hierarchy. The carrying amount for long-term debt as of March 31, 2020 (as disclosed in Note 9), approximates fair value based on market activity for other debt instruments with similar characteristics and comparable risk (Level 2). We categorize our assets and liabilities that are valued at fair value on a recurring basis into a three-level fair value hierarchy as defined by ASC 820, Fair Value Measurements, . Level 1 unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 quoted prices for similar assets or liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and Level 3 At March 31, 2020 and 2019, we had no assets or liabilities that were valued at fair value on a recurring basis. The fair value of indefinite-lived assets is measured on a non-recurring basis using significant unobservable inputs (Level 3) in connection with any required impairment test. There was no impairment of intangible assets during the three months ended March 31, 2020 and 2019. Share-Based Compensation We measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include options, restricted stock, restricted stock units, performance-based awards, share appreciation rights, and employee share purchase plans. We amortize such compensation amounts, if any, over the respective service periods of the award. We use the Black-Scholes-Merton option pricing model, or the Black-Scholes Model, an acceptable model in accordance with ASC 718, Compensation-Stock Compensation, to value options. Option valuation models require the input of assumptions, including the expected life of the stock-based awards, the estimated stock price volatility, the risk-free interest rate, and the expected dividend yield. The risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the instrument. Estimated volatility is a measure of the amount by which our stock price is expected to fluctuate each year during the term of the award. On January 1, 2017, we began using our own stock price in our volatility calculation along with the other peer entities whose stock prices were publicly available that were similar to our company and in 2019 we started using only our own stock price in the volatility calculation. Our calculation of estimated volatility is based on historical stock prices We grant performance-based stock awards and restricted stock awards for shares of common stock to employees. We value our restricted stock awards and our performance-based stock awards by reference to our stock price on the date of grant. We have elected to recognize compensation expense on a straight-line basis over the requisite service period of the entire award. The number of target shares that vest are determined based on the level of attainment of the targets. If a minimum level of performance is attained for the awards, restricted stock is issued based on the level of attainment. We recognize performance-based restricted stock as compensation expense based on the most likely probability of attaining the prescribed performance and over the requisite service period beginning at the grant date and through the date the restricted stock vests. Revenue Recognition In accordance with ASC 606, Revenue from Contracts with Customers Prescription Products As of March 31, 2020, our products consisted primarily of prescription vitamins and our FDA-approved products: IMVEXXY, which we began selling during the third quarter of 2018, and BIJUVA, which we began selling in the second quarter of 2019. We started selling ANNOVERA in the third quarter of 2019. As a result of the uncertainty surrounding the COVID-19 pandemic, we paused the commercial launch of ANNOVERA in the first quarter of 2020 and deferred sales and marketing initiatives into subsequent quarters. We sell our name brand and generic prescription products primarily through wholesale distributors and retail pharmacies. We have one performance obligation related to prescription products sold through wholesale distributors, which is to transfer promised goods to a customer, and two performance obligations related to products sold through retail pharmacies, which are to: (1) transfer promised goods and (2) provide customer service for an immaterial fee. We treat shipping as a fulfillment activity rather than as a separate obligation. We recognize prescription revenue only when we satisfy performance obligations by transferring a promised good or service to a customer. A good or service is considered to be transferred when the customer receives the goods or service or obtains control. Control refers to the customer’s ability to direct the use of, and obtain substantially all of the remaining benefits from, an asset. Based on our contracts, we invoice customers once our performance obligations have been satisfied, at which point payment is unconditional. We disclose receivables from contracts with customers separately in the statement of financial position. Payment for goods or services sold by us is typically due between 30 and 60 days after an invoice is sent to the customer. The transaction price of a contract is the amount of consideration which we expect to be entitled to in exchange for transferring promised goods or services to a customer. Prescription products are sold at fixed wholesale acquisition cost, or WAC, determined based on our list price. However, the total transaction price is variable as it is calculated net of estimated product returns, chargebacks, rebates, coupons, discounts and wholesaler fees. These estimates are based on the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable (if the amount is payable to the customer) or a current liability (if the amount is payable to a party other than a customer). In order to determine the transaction price, we estimate the amount of variable consideration at the outset of the contract either utilizing the expected value or most likely amount method, depending on the facts and circumstances relative to the contract or each variable consideration. The estimated amount of variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In determining amounts of variable consideration to include in a contract’s transaction price, we rely on our historical experience and other evidence that supports our qualitative assessment of whether revenue would be subject to a significant reversal. We consider all the facts and circumstances associated with both the risk of a revenue reversal arising from an uncertain future event and the magnitude of the reversal if that uncertain event were to occur. Actual amounts of consideration ultimately received may differ from our estimates. If actual results in the future vary from our original estimates, we will adjust these estimates, which would affect net product revenue and earnings in the period such changes in estimates become known. We accept returns of unsalable prescription products sold through wholesale distributors within a return period of six months 12 24 18 We offer various rebate and discount programs in an effort to maintain a competitive position in the marketplace and to promote sales and customer loyalty. We estimate the allowance for consumer rebates and coupons that we have offered based on our experience and industry averages, which is reviewed, and adjusted if necessary, on a quarterly basis. Estimates relating to these rebates and coupons are deducted from gross product revenues at the time the revenues are recognized. We record distributor fees based on amounts stated in contracts. Rebate and coupon estimates and distributor fees are recorded in accrued expenses and other current liabilities on the consolidated balance sheet. We estimate chargebacks based on number of units sold during the period taking into account prices stated in contracts and our historical experience. Estimates related to distributors fees, rebates, coupons and returns are disclosed in Note 8. We provide invoice discounts to our customers for prompt payment. Estimates relating to invoice discounts and chargebacks are deducted from gross product revenues at the time the revenues are recognized. As part of commercial launches for our FDA-approved prescription products, we introduced a co-pay assistance program for eligible enrolled patients whose out of pocket costs are reduced to a more affordable price. This allows patients to access the product at a reasonable cost and is in line with our responsible pricing approach. We reimburse pharmacies for this discount through third-party vendors. The variable consideration is estimated based on contract prices, the estimated percentage of patients that will utilize the copay assistance, the average assistance paid, the estimated levels of inventory in the distribution channel and the current level of prescriptions covered by patients’ insurance. Payers may change coverage levels for our prescription products positively or negatively, at any time up to the time that we have formally contracted coverage with the payer. As such, the net transaction price of our prescription products is susceptible to such changes in coverage levels, which are outside the influence of the Company. As a result, we constrain variable consideration for our prescription products to an amount that will not result in a significant revenue reversal in future periods. Our ability to estimate the net transaction price for our prescription products is constrained by our estimates of the amount to be paid for the co-pay assistance program which is directly related to the level of prescriptions paid for by insurance. As such, we record an accrual to reduce gross sales for the estimated co-pay and other patient assistance based on currently available third-party data and our internal analyses. We re-evaluate variable consideration each reporting period. License Revenue License arrangements may consist of non-refundable upfront license fees, exclusive licensed rights to patented or patent pending technology, and various performance or sales milestones and future product royalty payments. Some of these arrangements may include multiple performance obligations. Non-refundable up-front fees that are not contingent on any future performance by us, and do not require continuing involvement on our part, are recognized as revenue when the right to use functional IP is transferred to the customer. Disaggregation of revenue The following table provides information about disaggregated revenue by product mix Three Months Ended 2020 2019 Prescription vitamins $ 2,473,691 $ 1,935,971 IMVEXXY 6,392,601 2,010,680 BIJUVA 1,111,604 — ANNOVERA 2,272,761 — Net revenue $ 12,250,657 $ 3,946,651 License Agreement with the Population Council On July 30, 2018, we entered into the Population Council License Agreement to commercialize ANNOVERA in the U.S. We began selling ANNOVERA in a “test and learn” market introduction in the third quarter of 2019. As a result of the uncertainty surrounding the COVID-19 pandemic, we paused the commercial launch of ANNOVERA in the first quarter of 2020 and deferred sales and marketing initiatives into subsequent quarters. Under the terms of the Population Council License Agreement, we paid the Population Council a milestone payment of $ 20,000,000 20,000,000 20,000,000 745,511 The Population Council is also eligible to receive milestone payments and royalties from commercial sales of ANNOVERA. We are responsible for marketing expenses related to the commercialization of ANNOVERA. In addition, we are required to pay the Population Council, on a quarterly basis, step-based royalty payments based on annual net sales of ANNOVERA in the U.S. by the Company and its affiliates and permitted licensees as follows: (i) if annual net sales are less than or equal to $ 50,000,000 5 50,000,000 150,000,000 10 150,000,000 15 50 20 40 million 200 million 400 million 1 billion 20,000,000 Cost of Sales Cost of sales includes the cost of inventory, manufacturing, manufacturing overhead and supply chain costs, and product shipping and handling costs. The Population Council License Agreement requires payment of royalties based on the sale of future products. Such royalties are recorded as a component of cost of sales. Additionally, the amortization of license fees or milestone payments related to licensed products are classified as components of cost of sales to the extent such payments become due in the future. Segment Reporting We are managed and operated as one business, which is focused on creating and commercializing products targeted exclusively for women. Our business operations are managed by a single management team that reports to the President of our company. We do not operate separate lines of business with respect to any of our products and we do not prepare discrete financial information with respect to separate products. All product sales are derived from sales in the United States. Accordingly, we view our business as one reportable operating segment. Research and Development Expenses Research and development, or R&D, expenses include internal R&D activities, services of external contract research organizations, or CROs, costs of their clinical research sites, manufacturing, scale-up and validation costs, and other activities. Internal R&D activity expenses include laboratory supplies, salaries, benefits, and non-cash share-based compensation expenses. CRO activity expenses include preclinical laboratory experiments and clinical trial studies. Other activity expenses include regulatory consulting and other costs. The activities undertaken by our regulatory consultants that were classified as R&D expenses include assisting, consulting with, and advising our in-house staff with respect to various FDA submission processes, clinical trial processes, and scientific writing matters, including preparing protocols and FDA submissions. These consulting expenses were direct costs associated with preparing, reviewing, and undertaking work for our clinical trials and investigative drugs. We charge internal R&D activities and other activity expenses to operations as incurred. We make payments to CROs based on agreed-upon terms, which may include payments in advance of a study starting date. We expense nonrefundable advance payments for goods and services that will be used in future R&D activities when the activity has been performed or when the goods have been received rather than when the payment is made. We review and accrue CRO expenses and clinical trial study expenses based on services performed and rely on estimates of those costs applicable to the completion stage of a study as provided by CROs. Estimated accrued CRO costs are subject to revisions as such studies progress to completion. We charge revisions to expenses in the period in which the facts that give rise to the revision become known.

NOTE 4 _ INVENTORY

NOTE 4 – INVENTORY	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
NOTE 4 – INVENTORY	NOTE 4 – INVENTORY Inventory consists of the following: March 31, 2020 December 31, 2019 Finished products $ 6,956,900 $ 4,976,910 Work in process 2,554,891 1,182,059 Raw materials 5,095,662 5,701,747 TOTAL INVENTORY $ 14,607,453 $ 11,860,716

NOTE 5 _ OTHER CURRENT ASSETS

NOTE 5 – OTHER CURRENT ASSETS	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
NOTE 5 – OTHER CURRENT ASSETS	NOTE 5 – OTHER CURRENT ASSETS Other current assets consist of the following: March 31, 2020 December 31, 2019 Prepaid sales and marketing costs $ 553,789 $ 1,583,698 Debt financing fees on undrawn tranches (Note 9) 275,378 550,757 Prepaid insurance 1,064,468 1,812,135 Prepaid manufacturing 955,659 2,595,721 Other prepaid costs 3,769,073 4,787,482 TOTAL OTHER CURRENT ASSETS $ 6,618,367 $ 11,329,793

NOTE 6 _ FIXED ASSETS, NET

NOTE 6 – FIXED ASSETS, NET	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
NOTE 6 – FIXED ASSETS, NET	NOTE 6 – FIXED ASSETS, NET Fixed assets, net consist of the following: March 31, 2020 December 31, 2019 Accounting system $ 301,096 $ 301,096 Equipment 1,640,900 1,619,646 Furniture and fixtures 1,406,858 1,406,858 Computer hardware 80,211 80,211 Leasehold improvements 68,788 68,788 TOTAL FIXED ASSETS 3,497,853 3,476,599 Accumulated depreciation (1,167,663 ) (968,824 ) TOTAL FIXED ASSETS, NET $ 2,330,190 $ 2,507,775 Depreciation expense for the three months ended March 31, 2020 and 2019 was $ 198,839 66,494

NOTE 7 _ INTANGIBLE ASSETS, NET

NOTE 7 – INTANGIBLE ASSETS, NET	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
NOTE 7 – INTANGIBLE ASSETS, NET	NOTE 7 – INTANGIBLE ASSETS, NET The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of March 31, 2020 and December 31, 2019: March 31, 2020 Gross Carrying Amount Accumulated Amortization Net Weighted-Average Amortizable intangible assets: Approved hormone therapy drug candidate patents $ 3,763,022 $ (542,235 ) $ 3,220,787 12.75 Hormone therapy drug candidate patents (pending) 2,070,397 — 2,070,397 n/a Non-amortizable intangible assets: Multiple trademarks 325,648 — 325,648 indefinite TOTAL $ 6,159,067 $ (542,235 ) $ 5,616,832 December 31, 2019 Gross Carrying Amount Accumulated Amortization Net Weighted-Average Amortizable intangible assets: Approved hormone therapy drug candidate patents $ 3,463,082 $ (478,983 ) $ 2,984,099 13 Hormone therapy drug candidate patents (pending) 1,979,299 — 1,979,299 n/a Non-amortizable intangible assets: Multiple trademarks 294,813 — 294,813 indefinite TOTAL $ 5,737,194 $ (478,983 ) $ 5,258,211 We capitalize external costs, consisting primarily of legal costs, related to securing our patents and trademarks. Once a patent is granted, we amortize the approved hormone therapy drug candidate patents using the straight-line method over the estimated remaining useful life of approximately 20 years As of March 31, 2020, we had 31 30 • 12 six three • Eight seven one 13 three ten • One • One seven • Three • Two four • One Amortization expense was $ 63,155 40,444 Estimated amortization expense, based on current patent cost being amortized, for the next five years is as follows: Year Ending December 31, Estimated Amortization 2020 (9 months) $ 189,464 2021 $ 252,618 2022 $ 252,618 2023 $ 252,618 2024 $ 252,618

NOTE 8 _ OTHER CURRENT LIABILIT

NOTE 8 – OTHER CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
NOTE 8 – OTHER CURRENT LIABILITIES	NOTE 8 – OTHER CURRENT LIABILITIES Other current liabilities consist of the following: March 31, 2020 December 31, 2019 Accrued payroll, bonuses and commission costs $ 6,087,359 $ 8,040,278 Allowance for coupons and returns 10,712,171 10,316,298 Accrued sales and marketing costs 893,332 3,285,662 Accrued compensated absences 1,874,036 1,463,878 Accrued wholesale distributor fees 3,897,398 2,347,122 Accrued legal and accounting expense 909,137 422,336 Accrued research and development 1,179,065 1,049,603 Operating lease liability 1,753,499 1,501,539 Accrued rebates 4,794,794 3,916,672 Other accrued expenses 823,694 1,480,225 TOTAL OTHER CURRENT LIABILITIES $ 32,924,485 $ 33,823,613

NOTE 9 _ DEBT

NOTE 9 – DEBT	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
NOTE 9 – DEBT	NOTE 9 – DEBT On April 24, 2019, we entered into a Financing Agreement, as amended, or the Financing Agreement, with TPG Specialty Lending, Inc., as administrative agent, or the Administrative Agent, various lenders from time to time party thereto, and certain of our subsidiaries party thereto from time to time as guarantors, which provides us with a $ 300,000,000 200,000,000 50,000,000 50,000,000 11,000,000 3-month LIBOR 7.75 2.70 prime rate 6.75 5.2 four 30.0 5.0 3.0 1.0 2.5 60,000,000 On May 1, 2018, we entered into a Credit and Security Agreement, or the Credit Agreement, with MidCap Financial Trust, or MidCap, as agent, or Agent, and as lender, and the additional lenders party thereto from time to time (together with MidCap as a lender, the Lenders), as amended. The Credit Agreement provided a secured term loan facility in an aggregate principal amount of up to $ 200,000,000 three one-month LIBOR 1.50 7.75 On April 24, 2019, we terminated the Credit Agreement. A portion of the initial tranche of borrowing under the Financing Agreement in the amount of approximately $ 81,661,000 4 4 10,057,632 1,969,872 120,146 As of March 31, 2020, we had $ 250,000,000 7,902,270 7,626,891 50,000,000 319,408 of deferred financing fees related to the two tranches that have been received as interest expense in the accompanying consolidated financial statements. Interest on amounts borrowed under the Financing Agreement is due and payable quarterly in arrears. Interest expense for the three months ended March 31, 2020 was $ 5,942,639 11 % as of March 31, 2020 As of March 31, 2020 and December 31, 2019, the carrying value of our debt consisted March 31, 2020 December 31, 2019 Financing Agreement $ 250,000,000 $ 200,000,000 Debt discount and financing fees (6,571,329 ) (5,365,357 ) TOTAL LONG-TERM DEBT $ 243,428,671 $ 194,634,643

NOTE 10 _ NET LOSS PER SHARE

NOTE 10 – NET LOSS PER SHARE	3 Months Ended
	Mar. 31, 2020
Loss per share, basic and diluted:
NOTE 10 – NET LOSS PER SHARE	NOTE 10 – NET LOSS PER SHARE We calculate earnings per share, or EPS, in accordance with ASC 260, Earnings Per Share 0.001 March 31, 2020 March 31, 2019 Stock options 25,155,221 21,447,719 Warrants 1,832,571 1,832,571 Restricted stock awards 6,858,490 1,040,000 33,846,282 24,320,290

NOTE 11 _ STOCKHOLDERS_ EQUITY

NOTE 11 – STOCKHOLDERS’ EQUITY	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
NOTE 11 – STOCKHOLDERS’ EQUITY	NOTE 11 – STOCKHOLDERS’ EQUITY Preferred Stock At March 31, 2020, we had 10,000,000 0.001 no Common Stock At March 31, 2020, we had 350,000,000 271,677,742 Issuances During the Three Months ended March 31, 2020 During the three months ended March 31, 2020, certain individuals exercised stock options to purchase an aggregate of 350,666 72,109 Issuances During the Three Months ended March 31, 2019 During the three months ended March 31, 2019, certain individuals exercised stock options to purchase an aggregate of 276,383 100,107 12,097 11,834 Warrants to Purchase Common Stock As of March 31, 2020, we had warrants outstanding to purchase an aggregate of 1,832,571 1.70 0.24 8.20 2.62 The valuation methodology used to determine the fair value of our warrants is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions, including volatility of the stock price, the risk-free interest rate, dividend yield and the term of the warrant. During the three months ended March 31, 2020, no warrants were granted. During the three months ended March 31, 2019, we granted warrants to purchase an aggregate of 75,000 5.63 five 60.8 2.52 0 3.00 12 During the three months ended March 31, 2020, no warrants were exercised . During the three months ended March 31, 2019, warrants to purchase an aggregate of 1,250,000 471,184 We recorded share-based compensation expense related to warrants previously issued of $ 26,446 85,716 Options to Purchase Common Stock of the Company In 2009, we adopted the 2009 Long Term Incentive Compensation Plan, or the 2009 Plan, to provide financial incentives to employees, directors, advisers, and consultants of our company who are able to contribute towards the creation of or who have created stockholder value by providing them stock options and other stock and cash incentives, or the Awards. As of March 31, 2020, there were non-qualified stock options to purchase an aggregate of 14,546,246 In 2012, we adopted the 2012 Stock Incentive Plan, or the 2012 Plan, a non-qualified plan that was amended in August 2013. The 2012 Plan was designed to serve as an incentive for retaining qualified and competent key employees, officers, directors, and certain consultants and advisors of our company. As of March 31, 2020, there were non-qualified stock options to purchase an aggregate of 6,316,474 890,000 On June 20, 2019, we adopted the 2019 Plan to serve as an incentive for retaining qualified and competent key employees, officers, directors, and certain consultants and advisors of our company. The Awards available under the 2019 Plan consist of stock options, stock appreciation rights, restricted stock, restricted stock units, performance stock, performance units, and other stock or cash awards as described in the 2019 Plan. Generally, the options vest annually over four years or as determined by our board of directors, upon each option grant. Options may be exercised by paying the price for shares or on a cashless exercise basis after they have vested and prior to the specified expiration date provided and applicable exercise conditions are met, if any. The expiration date is generally ten years from the date the option is issued. As of March 31, 2020, there were 4,970,994 2,354,764 2,395,333 220,897 4,292,501 3,584,245 2,384,245 The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the three months ended March 31, 2020 and 2019 are set forth in the table below. March 31, 2020 March 31, 2019 Weighted average grant date fair value $ 0.98 $ 3.35 Risk-free interest rate 1.32 - 1.68 % 2.54 % Volatility 63.53 65.72 % 61.85 % Term (in years) 6 6.7 6.25 Dividend yield 0.00 % 0.00 % A summary of activity under the 2009, 2012 and 2019 Plans and related information during the three months ended March 31, 2019 is as follows: Number of Shares Under Options Weighted Average Exercise Price Weighted Average Remaining Contractual Aggregate Intrinsic Value Balance at December 31, 2019 25,030,234 $ 4.65 5.84 $ 3,668,171 Granted 636,500 $ 1.64 Exercised (350,666 ) $ 0.21 $ 725,199 Expired (50,472 ) $ 0.41 Cancelled/Forfeited (110,375 ) $ 4.48 Balance at March 31, 2020 25,155,221 $ 4.65 5.77 $ 787,178 Vested and Exercisable at March 31, 2020 19,258,556 $ 5.02 4.77 $ 787,178 Unvested at March 31, 2020 5,896,665 $ 3.42 9.05 $ — At March 31, 2020, our outstanding options had exercise prices ranging from $ 0.19 8.92 1,836,630 2,143,239 9,800,000 2.3 Restricted Stock Restricted stock awards granted under our 2009, 2012 and 2019 Plans entitle the holder to receive, at the end of vesting period, a specified number of shares of our Common Stock. Share-based compensation expense is measured by the market value of our Common Stock on the day of the grant. The shares vest ratably over the period specified in the grant. There is no partial vesting and any unvested portion is forfeited. Performance stock awards will vest if certain performance targets are achieved. If minimum performance thresholds are achieved, each award will convert into common stock at a defined ratio depending on the degree of achievement of the performance target designated by each individual award. If minimum performance thresholds are not achieved, then no shares will be issued. Based upon the expected levels of achievement, stock-based compensation is recognized on a straight-line basis over the awards’ requisite service periods. The expected levels of achievement are reassessed over the requisite service periods and, to the extent that the expected levels of achievement change, stock-based compensation is adjusted and recorded on the consolidated statements of income and the remaining unrecognized stock-based compensation is recognized over the remaining requisite service period. During the three months ended March 31, 2020 and 2019, we recorded $ 503,377 346,414 9,830,000 2.6 Restricted Stock Awards Performance Stock Awards Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Balance at December 31, 2019 1,240,000 $ 3.56 — — Granted 3,384,245 $ 1.50 2,384,245 $ 1.07 Vested/Released (150,000 ) $ 2.42 — — Forfeited — — — — Balance at March 31, 2020 4,474,245 $ 2.04 2,384,245 $ 1.07

NOTE 12 _ INCOME TAXES

NOTE 12 – INCOME TAXES	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
NOTE 12 – INCOME TAXES	NOTE 12 – INCOME TAXES Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. We do not expect to pay any significant federal or state income tax for 2020 as a result of (i) the losses recorded during the three months ended March 31, 2020, (ii) additional losses expected for the remainder of 2020, and/or (iii) net operating loss carry forwards from prior years. Accounting standards require the consideration of a valuation allowance for deferred tax assets if it is “more likely than not” that some component or all of the benefits of deferred tax assets will not be realized. As of March 31, 2020, we maintain a full valuation allowance for all deferred tax assets. Based on these requirements, no provision or benefit for income taxes has been recorded. There were no recorded unrecognized tax benefits at the end of the reporting period.

NOTE 13 _ RELATED PARTIES

NOTE 13 – RELATED PARTIES	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
NOTE 13 – RELATED PARTIES	NOTE 13 – RELATED PARTIES In July 2015, J. Martin Carroll, a director of our company, was appointed to the board of directors of Catalent, Inc. From time to time, we have entered into agreements with Catalent, Inc. and its affiliates, or Catalent, in the normal course of business. Agreements with Catalent have been reviewed by independent directors of our company, or a committee consisting of independent directors of our company, since July 2015. During the three months ended March 31, 2020 and 2019, we were billed by Catalent approximately $ 1,303,000 1,397,000 , respectively, for manufacturing activities related to our clinical trials, scale-up, registration batches, stability and validation testing. As of March 31, 2020 and December 31, 2019, there were amounts due to Catalent of approximately $ 755,000 and $ 35,000 , respectively. In addition, we have minimum purchase requirements in place with Catalent as disclosed in Note 15, Commitments and Contingencies.

NOTE 14 _ BUSINESS CONCENTRATIO

NOTE 14 – BUSINESS CONCENTRATIONS	3 Months Ended
	Mar. 31, 2020
Risks and Uncertainties [Abstract]
NOTE 14 – BUSINESS CONCENTRATIONS	NOTE 14 – BUSINESS CONCENTRATIONS We purchase our prescription products from several suppliers with approximately 32 28 24 13 33 29 27 11 We sell our prescription products to wholesale distributors, specialty pharmacies, specialty distributors, and chain drug stores that generally sell products to retail pharmacies, hospitals, and other institutional customers. During the three months ended March 31, 2020, four 10 70 five 10 83 During the three months ended March 31, 2020, Pillpack, Inc. accounted for approximately $ 3,199,000 2,259,000 1,886,000 1,234,000 967,000 787,000 534,000 525,000 457,000

NOTE 15 _ COMMITMENTS AND CONTI

NOTE 15 – COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
NOTE 15 – COMMITMENTS AND CONTINGENCIES	NOTE 15 – COMMITMENTS AND CONTINGENCIES Operating Leases We adopted ASC 842 effective January 1, 2019. Substantially all our operating lease right-of-use assets and operating lease liabilities represent leases for office space used to conduct our business. Upon adoption, we recognized a right-of-use asset and a lease liability for all leases that have commenced as of January 1, 2019. The right-of-use assets represent the right to use the leased asset for the lease term. The lease liabilities represent the present value of the lease payments under the lease. The right-of-use asset is initially measured at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, less any lease incentives received. All right-of-use assets are reviewed for impairment. The lease liability is initially measured at the present value of the lease payments, discounted using our secured incremental borrowing rate for the same term as the underlying lease because the rates are not implicit in the leases. Some of our leases contain variable lease payments, including payments based on an index or rate. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at lease commencement. Additional payments based on the change in an index or rate, or payments based on a change in our portion of the operating expenses are recorded as a period expense when incurred. Lease modifications result in remeasurement of the lease liability. Included in lease expense are any variable lease payments incurred in the period that were not included in the initial lease liability. We lease administrative office space in Boca Raton, Florida pursuant to a non-cancelable operating lease that commenced on July 1, 2013 and originally provided for a 63 In October 2018, we entered into a lease for new corporate offices in Boca Raton, Florida. The lease includes 56,212 7,561 48,651 11 years two five years 6,536 Supplemental lease information at: March 31, 2020 December 31, 2019 Right-of-use asset $ 9,757,167 $ 10,109,154 Short-term operating lease liability (included in Other current liabilities) $ 1,753,499 $ 1,501,539 Long-term operating lease liability $ 8,782,274 $ 9,145,049 Weighted average remaining term 9 years 9 years Weighted average discount rate 8.25 % 8.25 % Supplemental cash flow information March 31, 2020 March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities for operating lease $ 327,386 $ 279,742 Right-of-use assets obtained in exchange for lease obligation $ — $ 3,760,171 The following table reconciles the undiscounted cash flows for all operating leases at March 31, 2020 to the operating lease liabilities recorded on the balance sheet: Year Ended December 31, 2020 (9 months) $ 1,239,230 2021 2,198,541 2022 1,262,302 2023 1,293,859 2024 1,326,206 Thereafter 8,036,931 Total undiscounted lease payments 15,357,069 Less: imputed interest (4,821,296 ) Present value of lease payments $ 10,535,773 During the three months ended March 31, 2020 and 2019, operating lease expense related to our real estate leases was $ 563,764 295,109 , respectively, and variable lease expense was insignificant. Intellectual Property Licenses The Population Council License Agreement provides for future milestone payments to be paid by us for access to certain technologies. In addition, we pay royalties as a percent of revenue as described in Note 3, Summary of Significant Accounting Policies , to these consolidated financial statements. Purchase Commitments We have manufacturing and supply agreements whereby we are required to purchase from Catalent a minimum number of softgels during the first contract year and a higher number of softgels after the first contract year. If the minimum order quantities of specific products are not met, we are required to pay Catalent 50 % of the difference between the total amount we would have paid to Catalent if the minimum requirement had been fulfilled and the sum of all purchases of our products from Catalent during the contract year. In addition, we have a manufacturing and supply agreement whereby we are required to purchase a minimum number of units of ANNOVERA during a contract year. As of March 31, 2020, we have met our purchase commitments with Catalent. Legal Proceedings From time to time, we are involved in litigation and proceedings in the ordinary course of business. We are not currently involved in any legal proceeding that we believe would have a material effect on our consolidated financial condition, results of operations, or cash flows. Off-Balance Sheet Arrangements As of March 31, 2020 and 2019, we had no off-balance sheet arrangements that have had or are reasonably likely to have current or future effects on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. Employment Agreements We have entered into employment agreements with certain of our executives that provide for compensation and certain other benefits. Under certain circumstances, including a change in control, some of these agreements provide for severance or other payments, if those circumstances occur during the term of the employment agreement.

NOTE 16 _ SUBSEQUENT EVENTS

NOTE 16 – SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
NOTE 16 – SUBSEQUENT EVENTS	NOTE 16 – SUBSEQUENT EVENTS Paycheck Protection Program Loan On April 27, 2020, we received a loan pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, as administered by the U.S. Small Business Administration, or the SBA. The loan in the principal amount of $ 6,477,094 The PPP Loan matures on the two-year anniversary of the funding date and bears interest at a fixed rate of 1.00 All or a portion of the PPP Loan may be forgiven by the SBA and BofA upon application by us beginning 60 days but not later than 90 days after the funding date of the PPP Loan. Under the CARES Act, loan forgiveness is available for the sum of documented payroll costs, covered rent payments, and covered utilities during the eight-week period beginning on the approval date of the PPP Loan. For purposes of the CARES Act, payroll costs exclude compensation of an individual employee in excess of $ 100,000 25 100,000 25 Amendment No. 2 to Financing Agreement In connection with incurring the PPP Loan, we, together with our subsidiaries, amended the Financing Agreement to, among other things, permit us to incur the PPP Loan and add certain affirmative covenants relating thereto.

NOTE 3 _ SUMMARY OF SIGNIFICA_2

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Trade Accounts Receivable and Allowance for Doubtful Accounts	Trade Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are customer obligations due under normal trade terms. We review accounts receivable for uncollectible accounts and credit card chargebacks and provide an allowance for doubtful accounts, which is based upon a review of outstanding receivables, historical collection information, reasonable supportable forecasts and existing economic conditions and we record an allowance that presents the net amount expected to be collected. We evaluate trade accounts receivable for delinquency. We write off delinquent receivables against our allowance for doubtful accounts based on individual credit evaluations, the results of collection efforts, and specific circumstances of customers. We record recoveries of accounts previously written off when received as an increase in the allowance for doubtful accounts. To the extent data we use to calculate these estimates does not accurately reflect bad debts, adjustments to these reserves may be required. Our exposure to credit losses may increase if our customers are adversely affected by changes in healthcare laws, coverage, and reimbursement, economic pressures or uncertainty associated with local or global economic recessions, disruption associated with the current COVID-19 pandemic, or other customer-specific factors. Although we have historically not experienced significant credit losses, it is possible that there could be a material adverse impact from potential adjustments of the carrying amount of trade receivables in the future.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Our financial instruments consist primarily of cash, accounts receivable, accounts payable, accrued expenses and long-term debt. The carrying amount of cash, accounts receivable, accounts payable and accrued expenses approximates their fair value because of the short-term maturity of such instruments, which are considered Level 1 assets under the fair value hierarchy. The carrying amount for long-term debt as of March 31, 2020 (as disclosed in Note 9), approximates fair value based on market activity for other debt instruments with similar characteristics and comparable risk (Level 2). We categorize our assets and liabilities that are valued at fair value on a recurring basis into a three-level fair value hierarchy as defined by ASC 820, Fair Value Measurements, . Level 1 unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 quoted prices for similar assets or liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and Level 3 At March 31, 2020 and 2019, we had no assets or liabilities that were valued at fair value on a recurring basis. The fair value of indefinite-lived assets is measured on a non-recurring basis using significant unobservable inputs (Level 3) in connection with any required impairment test. There was no impairment of intangible assets during the three months ended March 31, 2020 and 2019.
Share-Based Compensation	Share-Based Compensation We measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include options, restricted stock, restricted stock units, performance-based awards, share appreciation rights, and employee share purchase plans. We amortize such compensation amounts, if any, over the respective service periods of the award. We use the Black-Scholes-Merton option pricing model, or the Black-Scholes Model, an acceptable model in accordance with ASC 718, Compensation-Stock Compensation, to value options. Option valuation models require the input of assumptions, including the expected life of the stock-based awards, the estimated stock price volatility, the risk-free interest rate, and the expected dividend yield. The risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the instrument. Estimated volatility is a measure of the amount by which our stock price is expected to fluctuate each year during the term of the award. On January 1, 2017, we began using our own stock price in our volatility calculation along with the other peer entities whose stock prices were publicly available that were similar to our company and in 2019 we started using only our own stock price in the volatility calculation. Our calculation of estimated volatility is based on historical stock prices We grant performance-based stock awards and restricted stock awards for shares of common stock to employees. We value our restricted stock awards and our performance-based stock awards by reference to our stock price on the date of grant. We have elected to recognize compensation expense on a straight-line basis over the requisite service period of the entire award. The number of target shares that vest are determined based on the level of attainment of the targets. If a minimum level of performance is attained for the awards, restricted stock is issued based on the level of attainment. We recognize performance-based restricted stock as compensation expense based on the most likely probability of attaining the prescribed performance and over the requisite service period beginning at the grant date and through the date the restricted stock vests.
Revenue Recognition	Revenue Recognition In accordance with ASC 606, Revenue from Contracts with Customers Prescription Products As of March 31, 2020, our products consisted primarily of prescription vitamins and our FDA-approved products: IMVEXXY, which we began selling during the third quarter of 2018, and BIJUVA, which we began selling in the second quarter of 2019. We started selling ANNOVERA in the third quarter of 2019. As a result of the uncertainty surrounding the COVID-19 pandemic, we paused the commercial launch of ANNOVERA in the first quarter of 2020 and deferred sales and marketing initiatives into subsequent quarters. We sell our name brand and generic prescription products primarily through wholesale distributors and retail pharmacies. We have one performance obligation related to prescription products sold through wholesale distributors, which is to transfer promised goods to a customer, and two performance obligations related to products sold through retail pharmacies, which are to: (1) transfer promised goods and (2) provide customer service for an immaterial fee. We treat shipping as a fulfillment activity rather than as a separate obligation. We recognize prescription revenue only when we satisfy performance obligations by transferring a promised good or service to a customer. A good or service is considered to be transferred when the customer receives the goods or service or obtains control. Control refers to the customer’s ability to direct the use of, and obtain substantially all of the remaining benefits from, an asset. Based on our contracts, we invoice customers once our performance obligations have been satisfied, at which point payment is unconditional. We disclose receivables from contracts with customers separately in the statement of financial position. Payment for goods or services sold by us is typically due between 30 and 60 days after an invoice is sent to the customer. The transaction price of a contract is the amount of consideration which we expect to be entitled to in exchange for transferring promised goods or services to a customer. Prescription products are sold at fixed wholesale acquisition cost, or WAC, determined based on our list price. However, the total transaction price is variable as it is calculated net of estimated product returns, chargebacks, rebates, coupons, discounts and wholesaler fees. These estimates are based on the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable (if the amount is payable to the customer) or a current liability (if the amount is payable to a party other than a customer). In order to determine the transaction price, we estimate the amount of variable consideration at the outset of the contract either utilizing the expected value or most likely amount method, depending on the facts and circumstances relative to the contract or each variable consideration. The estimated amount of variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In determining amounts of variable consideration to include in a contract’s transaction price, we rely on our historical experience and other evidence that supports our qualitative assessment of whether revenue would be subject to a significant reversal. We consider all the facts and circumstances associated with both the risk of a revenue reversal arising from an uncertain future event and the magnitude of the reversal if that uncertain event were to occur. Actual amounts of consideration ultimately received may differ from our estimates. If actual results in the future vary from our original estimates, we will adjust these estimates, which would affect net product revenue and earnings in the period such changes in estimates become known. We accept returns of unsalable prescription products sold through wholesale distributors within a return period of six months 12 24 18 We offer various rebate and discount programs in an effort to maintain a competitive position in the marketplace and to promote sales and customer loyalty. We estimate the allowance for consumer rebates and coupons that we have offered based on our experience and industry averages, which is reviewed, and adjusted if necessary, on a quarterly basis. Estimates relating to these rebates and coupons are deducted from gross product revenues at the time the revenues are recognized. We record distributor fees based on amounts stated in contracts. Rebate and coupon estimates and distributor fees are recorded in accrued expenses and other current liabilities on the consolidated balance sheet. We estimate chargebacks based on number of units sold during the period taking into account prices stated in contracts and our historical experience. Estimates related to distributors fees, rebates, coupons and returns are disclosed in Note 8. We provide invoice discounts to our customers for prompt payment. Estimates relating to invoice discounts and chargebacks are deducted from gross product revenues at the time the revenues are recognized. As part of commercial launches for our FDA-approved prescription products, we introduced a co-pay assistance program for eligible enrolled patients whose out of pocket costs are reduced to a more affordable price. This allows patients to access the product at a reasonable cost and is in line with our responsible pricing approach. We reimburse pharmacies for this discount through third-party vendors. The variable consideration is estimated based on contract prices, the estimated percentage of patients that will utilize the copay assistance, the average assistance paid, the estimated levels of inventory in the distribution channel and the current level of prescriptions covered by patients’ insurance. Payers may change coverage levels for our prescription products positively or negatively, at any time up to the time that we have formally contracted coverage with the payer. As such, the net transaction price of our prescription products is susceptible to such changes in coverage levels, which are outside the influence of the Company. As a result, we constrain variable consideration for our prescription products to an amount that will not result in a significant revenue reversal in future periods. Our ability to estimate the net transaction price for our prescription products is constrained by our estimates of the amount to be paid for the co-pay assistance program which is directly related to the level of prescriptions paid for by insurance. As such, we record an accrual to reduce gross sales for the estimated co-pay and other patient assistance based on currently available third-party data and our internal analyses. We re-evaluate variable consideration each reporting period. License Revenue License arrangements may consist of non-refundable upfront license fees, exclusive licensed rights to patented or patent pending technology, and various performance or sales milestones and future product royalty payments. Some of these arrangements may include multiple performance obligations. Non-refundable up-front fees that are not contingent on any future performance by us, and do not require continuing involvement on our part, are recognized as revenue when the right to use functional IP is transferred to the customer. Disaggregation of revenue The following table provides information about disaggregated revenue by product mix Three Months Ended 2020 2019 Prescription vitamins $ 2,473,691 $ 1,935,971 IMVEXXY 6,392,601 2,010,680 BIJUVA 1,111,604 — ANNOVERA 2,272,761 — Net revenue $ 12,250,657 $ 3,946,651
License Agreement with the Population Council	License Agreement with the Population Council On July 30, 2018, we entered into the Population Council License Agreement to commercialize ANNOVERA in the U.S. We began selling ANNOVERA in a “test and learn” market introduction in the third quarter of 2019. As a result of the uncertainty surrounding the COVID-19 pandemic, we paused the commercial launch of ANNOVERA in the first quarter of 2020 and deferred sales and marketing initiatives into subsequent quarters. Under the terms of the Population Council License Agreement, we paid the Population Council a milestone payment of $ 20,000,000 20,000,000 20,000,000 745,511 The Population Council is also eligible to receive milestone payments and royalties from commercial sales of ANNOVERA. We are responsible for marketing expenses related to the commercialization of ANNOVERA. In addition, we are required to pay the Population Council, on a quarterly basis, step-based royalty payments based on annual net sales of ANNOVERA in the U.S. by the Company and its affiliates and permitted licensees as follows: (i) if annual net sales are less than or equal to $ 50,000,000 5 50,000,000 150,000,000 10 150,000,000 15 50 20 40 million 200 million 400 million 1 billion 20,000,000
Cost of Sales	Cost of Sales Cost of sales includes the cost of inventory, manufacturing, manufacturing overhead and supply chain costs, and product shipping and handling costs. The Population Council License Agreement requires payment of royalties based on the sale of future products. Such royalties are recorded as a component of cost of sales. Additionally, the amortization of license fees or milestone payments related to licensed products are classified as components of cost of sales to the extent such payments become due in the future.
Segment Reporting	Segment Reporting We are managed and operated as one business, which is focused on creating and commercializing products targeted exclusively for women. Our business operations are managed by a single management team that reports to the President of our company. We do not operate separate lines of business with respect to any of our products and we do not prepare discrete financial information with respect to separate products. All product sales are derived from sales in the United States. Accordingly, we view our business as one reportable operating segment.
Research and Development Expenses	Research and Development Expenses Research and development, or R&D, expenses include internal R&D activities, services of external contract research organizations, or CROs, costs of their clinical research sites, manufacturing, scale-up and validation costs, and other activities. Internal R&D activity expenses include laboratory supplies, salaries, benefits, and non-cash share-based compensation expenses. CRO activity expenses include preclinical laboratory experiments and clinical trial studies. Other activity expenses include regulatory consulting and other costs. The activities undertaken by our regulatory consultants that were classified as R&D expenses include assisting, consulting with, and advising our in-house staff with respect to various FDA submission processes, clinical trial processes, and scientific writing matters, including preparing protocols and FDA submissions. These consulting expenses were direct costs associated with preparing, reviewing, and undertaking work for our clinical trials and investigative drugs. We charge internal R&D activities and other activity expenses to operations as incurred. We make payments to CROs based on agreed-upon terms, which may include payments in advance of a study starting date. We expense nonrefundable advance payments for goods and services that will be used in future R&D activities when the activity has been performed or when the goods have been received rather than when the payment is made. We review and accrue CRO expenses and clinical trial study expenses based on services performed and rely on estimates of those costs applicable to the completion stage of a study as provided by CROs. Estimated accrued CRO costs are subject to revisions as such studies progress to completion. We charge revisions to expenses in the period in which the facts that give rise to the revision become known.

NOTE 3 _ SUMMARY OF SIGNIFICA_3

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
The following table provides information about disaggregated revenue by product mix	The following table provides information about disaggregated revenue by product mix Three Months Ended 2020 2019 Prescription vitamins $ 2,473,691 $ 1,935,971 IMVEXXY 6,392,601 2,010,680 BIJUVA 1,111,604 — ANNOVERA 2,272,761 — Net revenue $ 12,250,657 $ 3,946,651

NOTE 4 _ INVENTORY (Tables)

NOTE 4 – INVENTORY (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventory consists of the following:	Inventory consists of the following: March 31, 2020 December 31, 2019 Finished products $ 6,956,900 $ 4,976,910 Work in process 2,554,891 1,182,059 Raw materials 5,095,662 5,701,747 TOTAL INVENTORY $ 14,607,453 $ 11,860,716

NOTE 5 _ OTHER CURRENT ASSETS (

NOTE 5 – OTHER CURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other current assets consist of the following:	Other current assets consist of the following: March 31, 2020 December 31, 2019 Prepaid sales and marketing costs $ 553,789 $ 1,583,698 Debt financing fees on undrawn tranches (Note 9) 275,378 550,757 Prepaid insurance 1,064,468 1,812,135 Prepaid manufacturing 955,659 2,595,721 Other prepaid costs 3,769,073 4,787,482 TOTAL OTHER CURRENT ASSETS $ 6,618,367 $ 11,329,793

NOTE 6 _ FIXED ASSETS, NET (Tab

NOTE 6 – FIXED ASSETS, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Fixed assets, net consist of the following:	Fixed assets, net consist of the following: March 31, 2020 December 31, 2019 Accounting system $ 301,096 $ 301,096 Equipment 1,640,900 1,619,646 Furniture and fixtures 1,406,858 1,406,858 Computer hardware 80,211 80,211 Leasehold improvements 68,788 68,788 TOTAL FIXED ASSETS 3,497,853 3,476,599 Accumulated depreciation (1,167,663 ) (968,824 ) TOTAL FIXED ASSETS, NET $ 2,330,190 $ 2,507,775

NOTE 7 _ INTANGIBLE ASSETS, N_2

NOTE 7 – INTANGIBLE ASSETS, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of March 31, 2020 and December 31, 2019:	The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of March 31, 2020 and December 31, 2019: March 31, 2020 Gross Carrying Amount Accumulated Amortization Net Weighted-Average Amortizable intangible assets: Approved hormone therapy drug candidate patents $ 3,763,022 $ (542,235 ) $ 3,220,787 12.75 Hormone therapy drug candidate patents (pending) 2,070,397 — 2,070,397 n/a Non-amortizable intangible assets: Multiple trademarks 325,648 — 325,648 indefinite TOTAL $ 6,159,067 $ (542,235 ) $ 5,616,832 December 31, 2019 Gross Carrying Amount Accumulated Amortization Net Weighted-Average Amortizable intangible assets: Approved hormone therapy drug candidate patents $ 3,463,082 $ (478,983 ) $ 2,984,099 13 Hormone therapy drug candidate patents (pending) 1,979,299 — 1,979,299 n/a Non-amortizable intangible assets: Multiple trademarks 294,813 — 294,813 indefinite TOTAL $ 5,737,194 $ (478,983 ) $ 5,258,211
Estimated amortization expense, based on current patent cost being amortized, for the next five years is as follows:	Estimated amortization expense, based on current patent cost being amortized, for the next five years is as follows: Year Ending December 31, Estimated Amortization 2020 (9 months) $ 189,464 2021 $ 252,618 2022 $ 252,618 2023 $ 252,618 2024 $ 252,618

NOTE 8 _ OTHER CURRENT LIABIL_2

NOTE 8 – OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
Other current liabilities consist of the following:	Other current liabilities consist of the following: March 31, 2020 December 31, 2019 Accrued payroll, bonuses and commission costs $ 6,087,359 $ 8,040,278 Allowance for coupons and returns 10,712,171 10,316,298 Accrued sales and marketing costs 893,332 3,285,662 Accrued compensated absences 1,874,036 1,463,878 Accrued wholesale distributor fees 3,897,398 2,347,122 Accrued legal and accounting expense 909,137 422,336 Accrued research and development 1,179,065 1,049,603 Operating lease liability 1,753,499 1,501,539 Accrued rebates 4,794,794 3,916,672 Other accrued expenses 823,694 1,480,225 TOTAL OTHER CURRENT LIABILITIES $ 32,924,485 $ 33,823,613

NOTE 9 _ DEBT (Tables)

NOTE 9 – DEBT (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
As of March 31, 2020 and December 31, 2019, the carrying value of our debt consisted of the following:	As of March 31, 2020 and December 31, 2019, the carrying value of our debt consisted March 31, 2020 December 31, 2019 Financing Agreement $ 250,000,000 $ 200,000,000 Debt discount and financing fees (6,571,329 ) (5,365,357 ) TOTAL LONG-TERM DEBT $ 243,428,671 $ 194,634,643

NOTE 10 _ NET LOSS PER SHARE (T

NOTE 10 – NET LOSS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
Loss per share, basic and diluted:
NET LOSS PER SHARE	March 31, 2020 March 31, 2019 Stock options 25,155,221 21,447,719 Warrants 1,832,571 1,832,571 Restricted stock awards 6,858,490 1,040,000 33,846,282 24,320,290

NOTE 11 _ STOCKHOLDERS_ EQUITY

NOTE 11 – STOCKHOLDERS’ EQUITY (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the three months ended March 31, 2020 and 2019 are set forth in the table below.	The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected life of the stock options. The ranges of assumptions used in the Black-Scholes Model during the three months ended March 31, 2020 and 2019 are set forth in the table below. March 31, 2020 March 31, 2019 Weighted average grant date fair value $ 0.98 $ 3.35 Risk-free interest rate 1.32 - 1.68 % 2.54 % Volatility 63.53 65.72 % 61.85 % Term (in years) 6 6.7 6.25 Dividend yield 0.00 % 0.00 %
A summary of activity under the 2009, 2012 and 2019 Plans and related information during the three months ended March 31, 2019 is as follows:	A summary of activity under the 2009, 2012 and 2019 Plans and related information during the three months ended March 31, 2019 is as follows: Number of Shares Under Options Weighted Average Exercise Price Weighted Average Remaining Contractual Aggregate Intrinsic Value Balance at December 31, 2019 25,030,234 $ 4.65 5.84 $ 3,668,171 Granted 636,500 $ 1.64 Exercised (350,666 ) $ 0.21 $ 725,199 Expired (50,472 ) $ 0.41 Cancelled/Forfeited (110,375 ) $ 4.48 Balance at March 31, 2020 25,155,221 $ 4.65 5.77 $ 787,178 Vested and Exercisable at March 31, 2020 19,258,556 $ 5.02 4.77 $ 787,178 Unvested at March 31, 2020 5,896,665 $ 3.42 9.05 $ —
Restricted stock and performance stock awards	Restricted Stock Awards Performance Stock Awards Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Balance at December 31, 2019 1,240,000 $ 3.56 — — Granted 3,384,245 $ 1.50 2,384,245 $ 1.07 Vested/Released (150,000 ) $ 2.42 — — Forfeited — — — — Balance at March 31, 2020 4,474,245 $ 2.04 2,384,245 $ 1.07

NOTE 15 _ COMMITMENTS AND CON_2

NOTE 15 – COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Supplemental lease information	Supplemental lease information at: March 31, 2020 December 31, 2019 Right-of-use asset $ 9,757,167 $ 10,109,154 Short-term operating lease liability (included in Other current liabilities) $ 1,753,499 $ 1,501,539 Long-term operating lease liability $ 8,782,274 $ 9,145,049 Weighted average remaining term 9 years 9 years Weighted average discount rate 8.25 % 8.25 % Supplemental cash flow information March 31, 2020 March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities for operating lease $ 327,386 $ 279,742 Right-of-use assets obtained in exchange for lease obligation $ — $ 3,760,171
The following table reconciles the undiscounted cash flows for all operating leases at March 31, 2020 to the operating lease liabilities recorded on the balance sheet:	The following table reconciles the undiscounted cash flows for all operating leases at March 31, 2020 to the operating lease liabilities recorded on the balance sheet: Year Ended December 31, 2020 (9 months) $ 1,239,230 2021 2,198,541 2022 1,262,302 2023 1,293,859 2024 1,326,206 Thereafter 8,036,931 Total undiscounted lease payments 15,357,069 Less: imputed interest (4,821,296 ) Present value of lease payments $ 10,535,773

NOTE 1 _ THE COMPANY (Details N

NOTE 1 – THE COMPANY (Details Narrative)	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of subsidiaries	3

The following table provides in

The following table provides information about disaggregated revenue by product mix (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Product Information [Line Items]
Net revenue	$ 12,250,657	$ 3,946,651
Prescription Vitamins [Member]
Product Information [Line Items]
Net revenue	2,473,691	1,935,971
Imvexxy [Member]
Product Information [Line Items]
Net revenue	6,392,601	$ 2,010,680
BIJUVA [Member]
Product Information [Line Items]
Net revenue	1,111,604
ANNOVERA [Member]
Product Information [Line Items]
Net revenue	$ 2,272,761

NOTE 3 _ SUMMARY OF SIGNIFICA_4

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	3 Months Ended
	Mar. 31, 2020USD ($)
Property, Plant and Equipment [Line Items]
Amortization of Intangible Assets	$ 745,511
Council License Agreement [Member]
Property, Plant and Equipment [Line Items]
Annual royalty rate reduction of initial rate during the six-month period from commercial sale of a generic equivalent	50.00%
Maximum costs and expenses for post approval	$ 20,000,000
Council License Agreement Step 1
Property, Plant and Equipment [Line Items]
Royalty (percent)	5.00%
Council License Agreement Step 2
Property, Plant and Equipment [Line Items]
Royalty (percent)	10.00%
Council License Agreement Step 3
Property, Plant and Equipment [Line Items]
Royalty (percent)	15.00%
Vitamins and IMVEXXY [Member]
Property, Plant and Equipment [Line Items]
Shelf life of prescription products following product expiration	24 months
BIJUVA and ANNOVERA [Member]
Property, Plant and Equipment [Line Items]
Shelf life of prescription products following product expiration	18 months
ANNOVERA [Member] | Council License Agreement [Member]
Property, Plant and Equipment [Line Items]
Milestone payment upon FDA Approval	$ 20,000,000
Milestone payments (payment after release of first commercial batch)	20,000,000
License rights acquired	$ 20,000,000
Minimum [Member]
Property, Plant and Equipment [Line Items]
Return period of unsalable prescription products	6 months
Minimum [Member] | Council License Agreement Step 2
Property, Plant and Equipment [Line Items]
Net sales amount per step-based royalty	$ 50,000,000
Minimum [Member] | Council License Agreement Step 3
Property, Plant and Equipment [Line Items]
Net sales amount per step-based royalty	$ 150,000,000
Maximum [Member]
Property, Plant and Equipment [Line Items]
Return period of unsalable prescription products	12 months
Maximum [Member] | Council License Agreement Step 1
Property, Plant and Equipment [Line Items]
Net sales amount per step-based royalty	$ 50,000,000
Maximum [Member] | Council License Agreement Step 2
Property, Plant and Equipment [Line Items]
Net sales amount per step-based royalty	$ 150,000,000

Inventory consists of the follo

Inventory consists of the following: (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished products	$ 6,956,900	$ 4,976,910
Work in process	2,554,891	1,182,059
Raw materials	5,095,662	5,701,747
TOTAL INVENTORY	$ 14,607,453	$ 11,860,716

Other current assets consist of

Other current assets consist of the following: (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid sales and marketing costs	$ 553,789	$ 1,583,698
Debt financing fees on undrawn tranches (Note 9)	275,378	550,757
Prepaid insurance	1,064,468	1,812,135
Prepaid manufacturing	955,659	2,595,721
Other prepaid costs	3,769,073	4,787,482
TOTAL OTHER CURRENT ASSETS	$ 6,618,367	$ 11,329,793

Fixed assets, net consist of th

Fixed assets, net consist of the following: (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	$ 3,497,853	$ 3,476,599
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(1,167,663)	(968,824)
Property, Plant and Equipment, Net	2,330,190	2,507,775
Software and Software Development Costs [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	301,096	301,096
Equipment [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	1,640,900	1,619,646
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	1,406,858	1,406,858
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	80,211	80,211
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
TOTAL FIXED ASSETS	$ 68,788	$ 68,788

NOTE 6 _ FIXED ASSETS, NET (Det

NOTE 6 – FIXED ASSETS, NET (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 198,839	$ 66,494

The following table sets forth

The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of March 31, 2020 and December 31, 2019: (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ (542,235)	$ (478,983)
Intangible Assets, Gross (Excluding Goodwill)	6,159,067	5,737,194
Intangible Assets, Net (Excluding Goodwill)	5,616,832	5,258,211
Multiple Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Trademarks	325,648	294,813
Indefinite-lived Intangible Assets (Excluding Goodwill)	325,648	294,813
Approved Hormone Therapy Drug Candidate Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	3,763,022	3,463,082
Finite-Lived Intangible Assets, Accumulated Amortization	(542,235)	(478,983)
Finite-Lived Intangible Assets, Net	$ 3,220,787	$ 2,984,099
Finite-Lived Intangible Assets, Remaining Amortization Period	12 years 9 months	13 years
Hormone Therapy Drug Candidate Patents - (Pending) [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 2,070,397	$ 1,979,299
Finite-Lived Intangible Assets, Net	$ 2,070,397	$ 1,979,299

Estimated amortization expense,

Estimated amortization expense, based on current patent cost being amortized, for the next five years is as follows: (Details)	Mar. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020 (9 months)	$ 189,464
2021	252,618
2022	252,618
2023	252,618
2024	$ 252,618

NOTE 7 _ INTANGIBLE ASSETS, N_3

NOTE 7 – INTANGIBLE ASSETS, NET (Details Narrative)	3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 63,155	$ 40,444
Approved Hormone Therapy Drug Candidate Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Domestic US Patents
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	31
Foreign Patents Member
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	30
Domestic Patents BIJUVA
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	12
Foreign Patents BIJUVA
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	6
Domestic Patents NonApproved BIJUVA
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	3
Domestic US Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	8
Domestic US Utility Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	7
Domestic US Design Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	1
Foreign Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	13
Foreign Utility Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	3
Foreign Design Patents IMVEXXY
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	10
Domestic Utility Patent Topical Cream Candidates [Member]
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	1
Domestic Utility Patent Transdermal Patch
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	1
Foreign Utility Patent Transdermal Patch
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	7
Domestic Utility Patent TX009HR
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	3
Domestic Patents Progesterone Formulations
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	2
Foreign Patents Progesterone Formulations
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	4
Domestic Utility Patent Opera
Finite-Lived Intangible Assets [Line Items]
Number of issued patents	1

Other current liabilities consi

Other current liabilities consist of the following: (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued payroll, bonuses and commission costs	$ 6,087,359	$ 8,040,278
Allowance for coupons and returns	10,712,171	10,316,298
Accrued sales and marketing costs	893,332	3,285,662
Accrued compensated absences	1,874,036	1,463,878
Accrued wholesale distributor fees	3,897,398	2,347,122
Accrued legal and accounting expense	909,137	422,336
Accrued research and development	1,179,065	1,049,603
Operating lease liability	1,753,499	1,501,539
Accrued rebates	4,794,794	3,916,672
Other accrued expenses	823,694	1,480,225
TOTAL OTHER CURRENT LIABILITIES	$ 32,924,485	$ 33,823,613

As of March 31, 2020 and Decemb

As of March 31, 2020 and December 31, 2019, the carrying value of our debt consisted of the following: (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt discount and financing fees	$ (6,571,329)	$ (5,365,357)
TOTAL LONG-TERM DEBT	243,428,671	194,634,643
Financing Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 250,000,000	$ 200,000,000

NOTE 9 _ DEBT (Details Narrativ

NOTE 9 – DEBT (Details Narrative)	Feb. 18, 2020USD ($)	Apr. 24, 2019USD ($)	May 01, 2018USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Debt Instrument [Line Items]
Proceeds from Financing Agreement				$ 50,000,000
Total revenue, net				12,250,657		3,946,651
Loss on extinguishment of debt						(10,057,632)
Amortization of deferred financing costs				319,408		120,146
Debt Instrument, Unamortized Discount				$ 7,626,891
Debt Instrument, Interest Rate, Effective Percentage				11.00%
Financing Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross				$ 250,000,000	$ 200,000,000
Deferred financing fees				7,902,270
Interest Expense, Borrowings				5,942,639
IMVEXXY, BIJUVA and ANNOVERA [Member] | Minimum [Member]
Debt Instrument [Line Items]
Total revenue, net					$ 11,000,000
Tranche Two [Member]
Debt Instrument [Line Items]
Amortization of deferred financing costs				319,408
Financing Agreement [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis		3-month LIBOR
Debt Instrument, Basis Spread on Variable Rate		7.75%
LIBOR floor rate		2.70%
Number of quarterly principal installment payments		4
Prepayment fee for first two years funding (percent)		30.00%
Prepayment fee third year funding (percent)		5.00%
Prepayment fee fourth year funding (percent)		3.00%
Prepayment fee fifth year funding (percent)		1.00%
Facility fee paid (percent)		2.50%
Minimum cash balance requirement under credit agreement		$ 60,000,000
Financing Agreement [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis		prime rate
Debt Instrument, Basis Spread on Variable Rate		6.75%
Prime rate floor		5.20%
Financing Agreement [Member] | Tranche Two [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50,000,000		$ 50,000,000
Financing Agreement [Member] | Tranche 3 [Member]
Debt Instrument [Line Items]
Proceeds from Financing Agreement	$ 50,000,000
Credit Agreement [Member]
Debt Instrument [Line Items]
Repayment of debt with new credit facility		$ 81,661,000
Prepayment fee percentage		4.00%
Repayment fee percentage		4.00%
Interest Expense, Debt						1,969,872
Amortization of deferred financing costs						$ 120,146
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			7.75%
Revolving Credit Facility [Member] | Financing Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 300,000,000
Secured Debt [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 200,000,000
Debt Instrument, Description of Variable Rate Basis			one-month LIBOR
LIBOR floor rate			1.50%
Number of tranches under term loan facility			3

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	33,846,282	24,320,290
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	25,155,221	21,447,719
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,832,571	1,832,571
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,858,490	1,040,000

NOTE 10 _ NET LOSS PER SHARE (D

NOTE 10 – NET LOSS PER SHARE (Details Narrative) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Loss per share, basic and diluted:
Common stock par value (in dollars per share)	$ 0.001	$ 0.001

The valuation methodology used

The valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expec (Details) - Share-based Payment Arrangement, Option [Member] - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 0.98	$ 3.35
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	1.32%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.68%
Risk-free interest rate		2.54%
Volatility - minimum	63.53%
Volatility - maximum	65.72%
Volatility		61.85%
Term		6 years 3 months
Dividend yield	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	6 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	6 years 8 months 12 days

A summary of activity under the

A summary of activity under the 2009, 2012 and 2019 Plans and related information during the three months ended March 31, 2019 is as follows: (Details) - Share-based Payment Arrangement, Option [Member] - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares under options, beginning	25,030,234
Weighted average exercise price, beginning	$ 4.65
Weighted average remaining contractual life	5 years 9 months 7 days		5 years 10 months 2 days
Aggregate intrinsic value, beginning	$ 3,668,171
Number of shares under options, granted	636,500
Weighted average exercise price, granted	$ 1.64
Number of shares under options, exercised	(350,666)	(276,383)
Weighted average exercise price, exercised	$ 0.21
Aggregate intrinsic value, exercised	$ 725,199
Number of shares under options, expired	(50,472)
Weighted average exercise price, expired	$ 0.41
Number of shares under options, cancelled forfeited	(110,375)
Weighted average exercise price, cancelled forfeited	$ 4.48
Number of shares under options, ending	25,155,221		25,030,234
Weighted average exercise price, ending	$ 4.65		$ 4.65
Aggregate intrinsic value, ending	$ 787,178		$ 3,668,171
Number of shares under options, vested and exercisable ending	19,258,556
Weighted average exercise price, vested and exercisable ending	$ 5.02
Weighted average remaining contractual life, vested and exercisable	4 years 9 months 7 days
Aggregate intrinsic value, vested and exercisable ending	$ 787,178
Number of shares under options, unvested ending	5,896,665
Weighted average exercise price, unvested ending	$ 3.42
Weighted average remaining contractual life, unvested	9 years 18 days

Restricted stock and performanc

Restricted stock and performance stock awards (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, beginning | shares	1,240,000
Weighted average grant date fair value, beginning | $ / shares	$ 3.56
Number of shares, granted | shares	3,384,245
Weighted average grant date fair value, granted | $ / shares	$ 1.50
Number of shares, vested/released | shares	(150,000)
Weighted average grant date fair value, vested/released | $ / shares	$ 2.42
Number of shares, ending | shares	4,474,245
Weighted average grant date fair value, ending | $ / shares	$ 2.04
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, granted | shares	2,384,245
Weighted average grant date fair value, granted | $ / shares	$ 1.07
Number of shares, ending | shares	2,384,245
Weighted average grant date fair value, ending | $ / shares	$ 1.07

NOTE 11 _ STOCKHOLDERS_ EQUIT_2

NOTE 11 – STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Class of Warrant or Right [Line Items]
Preferred Stock, Shares Authorized	10,000,000		10,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001		$ 0.001
Preferred Stock, Shares Outstanding	0		0
Preferred Stock, Shares Issued	0		0
Common Stock, Shares Authorized	350,000,000		350,000,000
Common Stock, Shares, Issued	271,677,742		271,177,076
Common Stock, Shares, Outstanding	271,677,742		271,177,076
Stock Issued During Period, Value, Stock Options Exercised	$ 72,109
Number of stock options exercised in cashless exercise (in shares)		12,097
Number of common stock issued during period for stock options exercised in cashless exercise (in shares)		11,834
Warrants and Rights Outstanding	$ 1,832,571
Weighted-average contractual remaining life	1 year 8 months 12 days
Share-based Payment Arrangement, Noncash Expense	$ 2,366,453	$ 2,586,948
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	9,800,000
Restricted Stock or Unit Expense	503,377	346,414
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	$ 9,830,000
2009 Long Term Incentive Compensation Plan [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	14,546,246
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	220,897
2012 Stock Incentive Plan [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	6,316,474
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,395,333
Plan 2019 [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	4,292,501
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	4,970,994
New Shares [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,354,764
Minimum [Member]
Class of Warrant or Right [Line Items]
Range - exercise price of options	$ 0.19
Maximum [Member]
Class of Warrant or Right [Line Items]
Range - exercise price of options	$ 8.92
Warrants Member
Class of Warrant or Right [Line Items]
Share-based Payment Arrangement, Noncash Expense	$ 26,446	$ 85,716
Warrants Member | Minimum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.24
Warrants Member | Maximum [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	8.20
Warrant [Member]
Class of Warrant or Right [Line Items]
Weighted average exercise price of warrants (in dollars per share)	$ 2.62
Warrants exercised		1,250,000
Outside Consultants Warrants [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 5.63
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted		75,000
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Volatility Rate		60.80%
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Risk Free Interest Rate		2.52%
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Dividend Rate		0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 3
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		12 months
Warrants - Cashless Exercise [Member]
Class of Warrant or Right [Line Items]
Number of stock issued in cashless exercise of warrants		471,184
Share-based Payment Arrangement, Option [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	350,666	276,383
Stock Issued During Period, Value, Stock Options Exercised	$ 72,109	$ 100,107
Share-based Payment Arrangement, Noncash Expense	$ 1,836,630	$ 2,143,239
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	25,155,221		25,030,234
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 3 months 18 days
Restricted Stock [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 1.50
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	4,474,245		1,240,000
Restricted Stock [Member] | 2012 Stock Incentive Plan [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	890,000
Restricted Stock [Member] | Plan 2019 [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	3,584,245
Performance Shares [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 1.07
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	2,384,245
Performance Shares [Member] | Plan 2019 [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	2,384,245
Restricted Stock Units (RSUs) [Member]
Class of Warrant or Right [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 7 months 6 days

NOTE 13 _ RELATED PARTIES (Deta

NOTE 13 – RELATED PARTIES (Details Narrative) - Affiliated Entity [Member] - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Related Party Transaction [Line Items]
Amount billed	$ 1,303,000	$ 1,397,000
Amounts due to related party	$ 755,000	$ 35,000

NOTE 14 _ BUSINESS CONCENTRAT_2

NOTE 14 – BUSINESS CONCENTRATIONS (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplier One Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk	32.00%	33.00%
Supplier 2
Concentration Risk [Line Items]
Concentration risk	28.00%	29.00%
Supplier 3
Concentration Risk [Line Items]
Concentration risk	24.00%	27.00%
Supplier Four Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk	13.00%	11.00%
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration risk	10.00%	10.00%
Number of customers - revenue	4	5
Four Customers Concentration Risk Member | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration risk	70.00%
Five Customers Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration risk		83.00%
PillPack - Major Customer | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues	$ 3,199,000	$ 534,000
McKesson Corporation - Major Customer | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues	2,259,000	457,000
Cardinal Health - Major Customer | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues	1,886,000	525,000
Pharmacy Innovations PA - Major Customer | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues	$ 1,234,000
PI Services - Major Customer | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues		967,000
AmerisourceBergen - Major Customer | Revenue Benchmark [Member]
Concentration Risk [Line Items]
Revenues		$ 787,000

Supplemental lease information

Supplemental lease information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Right-of-use asset	$ 9,757,167		$ 10,109,154
Short-term operating lease liability (included in Other current liabilities)	1,753,499		1,501,539
Long-term operating lease liability	$ 8,782,274		$ 9,145,049
Operating Lease, Weighted Average Remaining Lease Term	9 years		9 years
Weighted average discount rate	8.25%		8.25%
Cash paid for amounts included in the measurement of lease liabilities for operating lease	$ 327,386	$ 279,742
Right-of-use assets obtained in exchange for lease obligation		$ 3,760,171

The following table reconciles

The following table reconciles the undiscounted cash flows for all operating leases at March 31, 2020 to the operating lease liabilities recorded on the balance sheet: (Details)	Mar. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020 (9 months)	$ 1,239,230
2021	2,198,541
2022	1,262,302
2023	1,293,859
2024	1,326,206
Thereafter	8,036,931
Total undiscounted lease payments	15,357,069
Less: imputed interest	(4,821,296)
Present value of lease payments	$ 10,535,773

NOTE 15 _ COMMITMENTS AND CON_3

NOTE 15 – COMMITMENTS AND CONTINGENCIES (Details Narrative)	Jul. 01, 2013	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Aug. 01, 2019ft²	Jun. 01, 2019ft²	Oct. 02, 2018ft²
Commitments and Contingencies Disclosure [Abstract]
Non-cancelable operating lease term	63 months
Net rentable area						56,212
Rented area lease						7,561
Additional area of lease occupied				48,651
Lessee, Operating Lease, Term of Contract				11 years
Number of options to extend lease		2
Lease renewal term		5 years
Lease not yet commenced (area)					6,536
Operating lease expense | $		$ 563,764	$ 295,109
Significant supply commitment percentage payable		50.00%

NOTE 16 _ SUBSEQUENT EVENTS (De

NOTE 16 – SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - Paycheck Protection Program Loan [Member]	Apr. 27, 2020USD ($)
Subsequent Event [Line Items]
Principal amount	$ 6,477,094
Interest rate	1.00%
Individual employee annual compensation maximum for payroll costs under loan	$ 100,000
Maximum percentage of forgiven amounts for nonpayroll costs under loan	25.00%
Individual employee maximum salary reduced by specified percentage for reduction of loan forgiveness	$ 100,000
Individual employee salary reduction specified percentage for reduction of loan forgiveness	25.00%