Company: LIFD
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001332
Chunk: 111

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 111
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 during the quarter ended June 30, 2025, from $644,795 during the quarter ended June 30, 2024. In comparison, during the six months ended June 30, 2025, other operating expenses decreased to $1,296,159 from $1,328,964 during the six months ended June 30, 2024. The premiums of certain insurance policies that the Company has had in place have typically been based on the Company’s revenue; as such, these policies are costly for the Company. 

Other Income or Expenses

During the quarter ended June 30, 2025, total net non-operating Other Expenses of $214,138 primarily consisted of theft expense of $350,000 and interest expense of $77,474 offset by settlement income of $177,500 and interest income of $19,098. In comparison, during the quarter ended June 30, 2024, total net non-operating Other Expenses of $74,993 primarily consisted of interest expense of $90,487 and loss on disposal of fixed assets of $37,986, offset by interest income of $41,013.

During the six months ended June 30, 2025, total net non-operating Other Expenses of $268,502 primarily consisted theft expense of $350,000 and interest expense of $157,467 offset by settlement income of $177,500 and interest income of $51,982. In comparison, during the six months ended June 30, 2024, total, net non-operating net Other Expenses of $1,491,615 primarily consisted of the $1,349,467 loss related to the termination of the Jeeter collaboration.

Net Loss

During the quarter ended June 30, 2025, the Company recognized a net loss of $268,950. In comparison, during the quarter ended June 30, 2024, the Company recognized a net loss of $523,212.

During the six months ended June 30, 2025, the Company recognized a net loss of $571,992. In comparison, during the six months ended June 30, 2024, the Company recognized a net loss of $1,664,216.

The Business Loan requires that Borrower shall maintain a minimum 1.50x debt service coverage ratio (“DSCR”) based on Borrower's annual corporate tax return. The DSCR shall be tested annually, beginning with the 2023 return. The DSCR