Nevada 20-3464383 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT For the transition period from N/A to N/A Commission File No. 000-52369 FITLIFE BRANDS, INC. (Name of small business issuer as specified in its charter) (State or other jurisdiction of incorporation) (IRS Employer Identification No.) UNITED STATES SECURITIES AND EXC ...

Financial Performance - Revenue for the three months ended March 31, 2020, was $6,151,000, an increase of 4.6% compared to $5,878,000 for the same period in 2019[17] - Gross profit for the same period was $2,737,000, representing a gross margin of 44.4%, up from $2,541,000 and a gross margin of 43.2% in 2019[17] - Net income for the three months ended March 31, 2020, was $1,428,000, compared to $1,187,000 in 2019, reflecting a year-over-year increase of 20.3%[17] - Basic net income per share available to common shareholders increased to $1.36 in Q1 2020 from $1.07 in Q1 2019, a rise of 27.1%[17] - Operating income for the three months ended March 31, 2020, was $1,321,000, an increase from $1,202,000 in the same period of 2019[17] - Net income available to common shareholders for the three months ended March 31, 2020, was $1,428,000, compared to $1,187,000 for the same period in 2019, representing a 20.3% increase[45] - Basic earnings per share increased to $1.36 for the three months ended March 31, 2020, from $1.07 in the same period of 2019, a 27.1% increase[45] - Cash provided by operating activities was $1,000 for the three months ended March 31, 2020, a significant improvement from cash used in operations of $(121,000) for the same period in 2019[119] - Cash provided by financing activities was $2,400,000 for the three months ended March 31, 2020, compared to $300,000 for the same period in 2019[120] - Net income for the three-month period ended March 31, 2020 was $1,428,000, compared to $1,187,000 for the same period in 2019, reflecting an increase primarily due to higher revenue and lower operating expenses[111] Assets and Liabilities - Total current assets as of March 31, 2020, were $10,406,000, significantly higher than $5,701,000 as of December 31, 2019[15] - Total liabilities increased to $6,306,000 as of March 31, 2020, compared to $2,984,000 as of December 31, 2019[15] - The company reported a total stockholders' equity of $4,698,000 as of March 31, 2020, compared to $3,342,000 at the end of 2019[15] - As of March 31, 2020, the company had positive working capital of approximately $4,296,000, an increase from $2,925,000 at December 31, 2019[112] - The company owed $2.5 million under its existing Line of Credit as of March 31, 2020[137] Cash and Liquidity - Cash at the end of the period was $2,666,000, up from $438,000 at the end of Q1 2019, indicating a substantial liquidity improvement[23] - The company anticipates that cash derived from operations and existing cash resources will be sufficient to meet liquidity needs for the next twelve months[113] - The Company drew $2.5 million from the line of credit on March 20, 2020, to maintain financial flexibility amid COVID-19 uncertainties[31] - The Company received a loan of approximately $449,700 under the Paycheck Protection Program as part of the CARES Act[90] Sales and Revenue Sources - Sales to GNC accounted for 76% of total net revenue in Q1 2020, down from 82% in Q1 2019, with net sales of $4,697,000 compared to $4,864,000[50] - Online sales represented 14% of the Company's net revenue in Q1 2020, up from 10% in Q1 2019[51] - Online revenue accounted for approximately 14% of total revenue during the three months ended March 31, 2020, up from roughly 10% in the same period in 2019[104] Shareholder Activities - The Company repurchased 11,900 shares of Common Stock during Q1 2020, approximately 1% of the issued and outstanding shares[38] - The Company repurchased 11,900 shares of Common Stock for an aggregate purchase price of $171,000 during the three-month period ended March 31, 2020[78] - The Company repurchased 11,900 shares of Common Stock, approximately 1% of the issued and outstanding shares, at an average price of $14.35 per share[147] - The Share Repurchase Program was amended to allow for up to $2.5 million in repurchases over 24 months[36] - The Company issued a total of 123,222 shares of Common Stock following the conversion of 550 shares of Series A Preferred Stock on December 23, 2019[39] - The Company issued 417 shares of Common Stock with a fair value of $4,000 to directors for services rendered during the three-month period ended March 31, 2020[76] Operational Efficiency - General and administrative expenses decreased to $733,000 for the three months ended March 31, 2020, down from $774,000 in the same period last year, due to cost-reduction initiatives[108] - Selling and marketing expenses increased to $671,000 for the three months ended March 31, 2020, compared to $550,000 for the same period in 2019, reflecting increased marketing investments[109] - The Company allows for product returns, with less than 5% of products being returned, indicating a low risk of revenue reversal[57] Tax and Deferred Assets - The Company reported a federal net operating loss carryforward of approximately $26.6 million as of December 31, 2019, which can offset future taxable income[59] - During the quarter ended March 31, 2020, the Company received a tax refund of $41,000 related to alternative minimum tax carryforward[60] - The Company recorded a 100% valuation allowance against its net deferred tax assets as of March 31, 2020, due to uncertainties in future profitability[61] Inventory and Receivables - As of March 31, 2020, the Company's total inventories amounted to $3,023,000, a slight increase from $2,998,000 as of December 31, 2019[65] - Gross accounts receivable attributable to GNC as of March 31, 2020, were $4,186,000, representing 91% of total accounts receivable[50] Internal Controls - The Chief Executive Officer and Chief Financial Officer concluded that the internal control over financial reporting was effective as of March 31, 2020[141] - There have been no changes in internal controls over financial reporting during the quarter ended March 31, 2020[142]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-52369 FITLIFE BRANDS, INC. (Exact name of Registrant as specified in its charter) Nevada 20-3464383 (State of Incorporation) (IRS Employer Identification No.) 5214 S. 136th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT For the transition period from N/A to N/A Commission File No. 000-52369 FITLIFE BRANDS, INC. (Name of small business issuer as specified in its charter) (State or other jurisdiction of incorporation) (IRS Empl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT For the transition period from N/A to N/A Commission File No. 000-52369 FITLIFE BRANDS, INC. (Name of small business issuer as specified in its charter) If an emerging growth company, indicate by check mark if the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT For the transition period from N/A to N/A Commission File No. 000-52369 FITLIFE BRANDS, INC. (Name of small business issuer as specified in its charter) Nevada 20-3464383 (State or other jurisdiction of incorporat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2018 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-52369 FITLIFE BRANDS, INC. (Exact name of Registrant as specified in its charter) Nevada 20-3464383 (State of Incorporation) (IRS Employer Identification No.) 5214 S. 136th ...