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Document and Entity Information

v2.4.0.6
Document and Entity Information
3 Months Ended
Mar. 31, 2013
May 15, 2013
Document Information [Line Items]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Mar. 31, 2013  
Document Fiscal Year Focus 2013  
Document Fiscal Period Focus Q1  
Entity Registrant Name Targeted Medical Pharma, Inc.  
Entity Central Index Key 0001420030  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock Shares Outstanding   23,299,430

CONSOLIDATED BALANCE SHEETS

v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and Cash Equivalents $ 57,936 $ 326,603
Inventory 694,478 478,499
Accounts Receivable (Net of Allowance for Bad Debt) 519,858 353,993
Loans Receivable - Employees 5,352 6,033
Prepaid Expenses - Short Term 341,939 211,738
Prepaid Taxes 900,863 900,863
Deferred Tax Asset - Short Term 355,054 321,084
Total Current Assets 2,875,480 2,598,813
Property and Equipment - Net of Accumulated Depreciation 315,927 340,096
Intangible Assets - Net of Accumulated Amortization 2,310,628 2,318,619
Prepaid Expenses - Long Term 0 26,679
Deferred Tax Asset - Long Term 6,722,803 6,491,153
Total Assets 12,224,838 11,775,360
Liabilities:    
Accounts Payable 2,243,268 2,161,021
Accrued Expenses 5,255,494 4,862,636
Notes Payable-Related Parties: Short-term 5,067,908 5,032,942
Other Amounts due to Related Parties 0 0
Deferred Tax Liability - Current 69,648 69,648
Derivative Liability 100,495 188,475
Total Current Liabilities 12,736,813 12,314,722
Notes Payable-Related Parties: Long-term (Net of discounts of $121,550 and $149,739 respectively) 366,098 385,709
Deferred Income Taxes 1,103,062 1,076,965
Total Liabilities 14,205,973 13,777,396
Shareholders' Deficit:    
Preferred stock, $0.001 par value; 20,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.001 par value; 100,000,000 shares authorized, 23,011,782 and 23,008,782 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively 23,012 23,009
Additional Paid-In Capital 11,950,919 11,659,744
Accumulated Deficit (13,955,066) (13,684,789)
Total Shareholders' Deficit (1,981,135) (2,002,036)
Total Liabilities and Shareholders' Equity (Deficit) $ 12,224,838 $ 11,775,360

CONSOLIDATED BALANCE SHEETS (Parenthetical)

v2.4.0.6
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
Mar. 31, 2013
Dec. 31, 2012
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, shares authorized 20,000,000 20,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 100,000,000 100,000,000
Common stock, shares issued 23,011,782 23,011,782
Common stock, shares outstanding 23,008,782 23,008,782
Notes Payable-Related Parties Long-term (Net of discounts) $ 121,550 $ 149,739

CONDENSED CONSOLIDATED STATEMENTS OF LOSS

v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF LOSS (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues:    
Product Revenue $ 2,479,551 $ 1,272,810
Service Revenue 331,580 102,375
Total Revenue 2,811,131 1,375,185
Cost of Product Sold 351,479 189,993
Cost of Services Sold 547,195 444,742
Total Cost of Sales 898,674 634,735
Total Gross Profit 1,912,457 740,450
Operating Expenses:    
Research and Development 32,080 27,264
Selling, General and Administrative 2,388,638 2,284,354
Total Operating Expenses 2,420,718 2,311,618
Net Loss before Other Income and Expense (508,261) (1,571,168)
Other Income and Expense:    
Interest Income (Expense) (89,518) (75,839)
Derivative Revaluation 87,979 0
Total Other Income and (Expense) (1,539) (75,839)
Net Loss before Taxes (509,800) (1,647,007)
Deferred Income Tax Expense (Benefit) (239,523) (671,090)
Net Loss $ (270,277) $ (975,917)
Basic and Diluted Loss Per Share $ (0.01) $ (0.04)
Basic and Diluted Weighted Average Number of Common Shares Outstanding 23,010,015 21,949,576