Company: LIFD
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001862
Chunk: 33

Company: LFTD PARTNERS INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 33
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-collateralization. Any default under these agreements could result in the lender seizing the pledged collateral, including equity in key subsidiaries, intellectual property, and real estate, which could have a catastrophic impact on the Company. 

 F-22Table of Contents

The following presents the Working Capital Loan and Building Loan in the Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024:   September 30, 2025  December 31, 2024        Working Capital Loan $1,511,290  $2,509,838 Real Estate Loan  860,649   882,950 Total principal amount  2,371,939   3,392,788 Less: Unamortized debt financing costs  (35,679)  (43,997)Less: Current portion of Surety Bank notes  (662,387)  (559,418)Non-Current portion of Surety Bank notes $1,673,872  $2,789,372  The following represents aggregate payments due on the Working Capital and Building Loans as of September 30, 2025: 2025 $219,235 2026  876,939 2027  854,641 2028  860,088 Thereafter  - Total  2,810,903 Less: Interest portion  (438,964)Total principal amount $2,371,939 

NOTE 16 – REVENUES Revenue – The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606. The majority of the Company’s sales are of branded products to distributors, wholesalers, and end consumers. A minority of the Company’s sales are of raw goods to manufacturers, distributors and wholesalers. The majority of the Company’s sales are to distributors, followed by the Company’s sales to wholesalers, and then the Company’s sales to end consumers. Distributors primarily sell Lifted’s products to vape and smoke shops, stores specializing in hemp-derived products, convenience stores, health food stores, and other outlets.  Typically, the Company’s revenue is recognized when it satisfies a single performance obligation by transferring control of its products to a customer. Control is generally transferred when the Company’s products are either shipped or delivered based on the terms contained within the underlying contracts or agreements. If the shipping terms on a sale