Company: LIFD
Filing Date: 2025-02-24
Form Type: 8-K
Source: 0001096906-25-000193
Chunk: 8

Company: LFTD PARTNERS INC.
Filing Date: 2025-02-24
Form: 8-K
Item: Item 8.01
Chunk 8
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 Half Baked will own all rights, titles and interests in the brand name Half Baked Bar, and in the lease (the “ Half Baked Lease”) of 908 W. Riverside, Rockford, IL 61103, and the Half Baked Lease shall be in full force and effect and legally binding, without any outstanding defaults by Half Baked (as tenant) thereunder.

The SG Closing shall be subject to a number of conditions precedent being fulfilled on or prior to the date of the SG Closing (the “ SG Closing Date”):

(f) The merger agreement and all of the other transactions contemplated by the LOI - SG shall have obtained all necessary approvals, including: approval by a majority of the LIFD Board; unanimous approval by each of the owners and managers of SG, SIDC, BSC, Mrs. Buckbee’s, District and Half Baked; and approval by LIFD’s lender, Surety Bank of DeLand, Florida;

(g) all necessary securities filings shall have been filed with, and any necessary approvals shall have been obtained from, the SEC; and

(h) Fruci shall have audited the financial statements of SG and its subsidiaries for fiscal years 2023 and 2024 in accordance with U. S. generally accepted accounting principles (and potentially, after Fruci has reviewed those companies’ financial statements for quarterly periods during 2025), and such audited financial statements and audit opinion letters associated with the merger (collectively the “ Audit”) shall have been delivered by Fruci to LIFD, all as shall be necessary to allow SG to be acquired by LIFD

pursuant to all applicable SEC and FASB rules and regulations, and to allow LIFD to timely file all necessary securities filings with the SEC, and the Audit shall have been acceptable to LIFD in its discretion. SG and its subsidiaries shall use good faith efforts to cause the Audit to be completed as promptly as possible.

From and after the date of the LOI - SG through the SG Closing Date:

(i) SG and each of its subsidiaries shall continue to operate in due course and consistently with their historical practices;

(j) Any and all after-tax free cash flow generated by SG, SIDC, BSC and Mrs. Buckbee’s, or generated by BSC’s 50% ownership interests in District and Half Baked, shall be deposited by SG, SIDC, BSC, Mrs. Buckbee’s, District and Half Baked into checking accounts at Surety