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LFTD Partners Inc (LIFD0.00%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, highlighting an accumulated deficit of $3,967,708 as of the end of the fiscal year. The company continues to face significant financial obligations, including interest and principal payments on loans from Surety Bank and dividends on Series A and B Preferred Stock.
The report outlines the company's ongoing regulatory challenges, particularly concerning potential changes in federal and state laws that could impact the legality of its hemp-derived products.
LFTD Partners operates through its wholly-owned subsidiary, Lifted Liquids, Inc., which manufactures and sells hemp-derived and psychoactive products. The company also holds minority stakes in other businesses, including Ablis, Bendistillery, and Bend Spirits.
The filing emphasizes the risks associated with the company's dependence on a few large customers and the potential impact of regulatory actions on its business operations and financial performance.
LFTD Partners has secured financing through a $3,000,000 working capital loan and a $910,000 real estate loan, both from Surety Bank, with specific covenants and restrictions outlined in the agreements.
The company acknowledges the competitive pressures in the hemp-derived and psychoactive products market, noting the entry of larger competitors and the evolving regulatory landscape as significant challenges.
The report also discusses the company's strategic focus on potential acquisitions in the marijuana and hemp industries, while also considering diversification to mitigate regulatory risks.
LFTD Partners highlights its ongoing efforts to manage cybersecurity risks, although it notes the challenges in fully mitigating potential threats due to resource constraints.
The filing concludes with a cautionary note on the broader economic and political uncertainties that could impact the company's operations and financial stability.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the LFTD Partners Inc annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.