Company: LIFD
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001332
Chunk: 155

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 1
Chunk 155
---
Description of Legal Proceedings 

Lifted currently is involved in three pending lawsuits, two as the defendant, and one as the plaintiff. Please refer to NOTE 12 – LEGAL PROCEEDINGS for more information. 

ITEM 1A. RISK FACTORS

The Risk Factors identified under the heading “SUMMARY OF RISK FACTORS” under Part I and the risk factors described in Item 1A. under the heading “RISK FACTORS” in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 31, 2025 continue to represent the most significant risks to the Company’s future results of operations and financial conditions, without further modification or amendment, except as follows:

 (1)U.S. House and Senate Committees are currently considering legislation (“Bill”) that, if enacted in its current form, could result in the vast majority or all hemp-derived products containing THC becoming illegal one year after such enactment. The passage of such Bill could have a material adverse effect on the Company’s sales of hemp-derived products and the trading price of the Company’s common stock.    (2)On May 21, 2025, the Governor of Tennessee signed House Bill 1376, which significantly restricts the production and sale of hemp-derived products beginning in 2026, and which could materially adversely affect our sales of hemp-derived products in Tennessee and the trading price of our common stock;    (3)In Alabama, new regulations took effect on July 1, 2025, which are intended to curb or eliminate the sales of hemp-derived products in Alabama. These regulations could materially adversely affect our sales of hemp-derived products in Alabama and the trading price of our common stock;    (4)Opponents of our industry are known to be lobbying for legislation in Texas and other states intended to prohibit or restrict sales of hemp-derived products, and if such legislation becomes law, it could materially adversely affect our sales of hemp-derived products in those jurisdictions and the trading price of our common stock; and    (5)The visibility and trading volume of our common stock are low, and any material increase in such visibility and trading volume is likely dependent upon our ability to list our common stock on a recognized stock exchange, but our ability to satisfy the listing requirements for a recognized stock exchange cannot be guaranteed or assured. A continued inability to satisfy the listing requirements for a recognized stock exchange could materially adversely affect the visibility, trading volume, and trading