Company: LIFD
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000819
Chunk: 12

Company: LFTD PARTNERS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 12
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 as of December 14, 2023 (the “Mortgage”), among Lifted in favor of the Lender, in connection with the terms of the Loan Agreement and BL Note, Lifted agreed to a first priority mortgage on the 5511 Building (Parcel Number 08-222-32-410-104). In the event of default under the Loan Agreement or BL Note, or other cross collateralized obligations, the Lender would be entitled to the foregoing equity collateral to the detriment of the Borrower. Assignment of Rents, Leases, and Security Deposits Pursuant to the Assignment of Rents, Leases, and Security Deposits dated as of December 14, 2023 (the “Lease Assignment”), among Lifted in favor of the Lender, in connection with the terms of the Loan Agreement and BL Note, Lifted agreed to assign its rights to leases and income from the 5511 Building to Lender. In the event of default under the Loan Agreement or BL Note, or other cross collateralized obligations, the Lender would be entitled to the foregoing equity collateral to the detriment of the Borrower. Default under any of the agreements described above could have a highly detrimental, if not catastrophic impact on our Company.   Consolidated Balance Sheet Presentation of the Working Capital and Business Loans and Maturity Analysis The following presents the Working Capital and Business Loans in the Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024:   March 31, 2025  December 31, 2024        Working Capital Loan $2,378,812  $2,509,838 Real Estate Loan  875,386   882,950 Total principal amount  3,254,198   3,392,788 Less: Unamortized debt financing costs  (41,255)  (43,997)Less: Current portion of Surety Bank notes  (573,114)  (559,418)Non-Current portion of Surety Bank notes $2,639,829  $2,789,372  The following represents aggregate payments due on the Working Capital and Business Loans as of March 31, 2025: Maturity Analysis as of March 31, 2025       2025 $657,704 2026  876,939 202