Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 1113

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 1113
---
 as evidenced by the accumulated deficit at December 31, 2024 of $3,967,708. We plan to sustain the Company as a going concern by taking the following actions: (1) continuing to operate Lifted; (2) acquiring and/or developing profitable businesses that will create positive income from operations; and/or (3) completing private placements of our common stock and/or preferred stock. We believe that by taking these actions, we will be provided with sufficient future operations and cash flow to continue as a going concern. However, there can be no assurance that we will be successful in consummating such actions on acceptable terms, if at all. Moreover, many of such actions can be expected to result in substantial dilution to the existing shareholders of the Company. 

The following table summarizes our Company’s cash flows for the years ended December 31, 2024, 2023 and 2022:

  For the Years Ended   December 31,   2024  2023  2022 Net Cash Provided by/(Used in) Operating Activities  $(960,067) $638,925  $3,037,426 Net Cash Used in Investing Activities  (479,574)  (2,516,955)  (916,119)Net Cash Used In Financing Activities  (770,951)  3,704,945   (193,416)

Cash Flows From Operating Activities

Net cash used in operating activities was $960,067 for the year ended December 31, 2024. During the year ended December 31, 2024, net cash used in operating activities primarily resulted from a net loss of $1,857,429, which includes net, non-cash expenses of $3,861,942, offset by cash used for working capital, primarily inventory, and paydowns of accounts payable and accrued liabilities. Non-cash expenses are primarily related to spoiled and written off inventory of $1,550,599, bad debt expense of $1,469,078, and the loss on the Jeeter collaboration of $1,349,467. 

Net cash provided by operating activities was $638,925 for the year ended December 31, 2023. Net cash provided by operating activities in 2023 was primarily generated from net income of $2,159,007, which includes non-cash charges for Deferred Contingent Stock expense of $2,138