Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 1538

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 1538
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, payment of the company-wide Bonus Pool for 2021 (the “Modified 2021 Bonus Pool Amount”), payment of management bonuses, deferred revenue, and income taxes. 

 97Table of Contents

Cash Flows From Investing Activities

Net cash used in investing activities was $479,574 during the year ended December 31, 2024. In 2024, Lifted spent $313,763 on purchases of fixed assets and $200,000 for the cash portion of the second installment of merger consideration pursuant to the Oculus Merger Agreement.

Net cash used in investing activities was $2,516,955 during the year ended December 31, 2023, of which $1,385,225 was reported used for the purchase of Lifted’s main operations building located at 5511 95th Avenue, Kenosha, Wisconsin, and of which $789,662 related to net purchases of fixed assets. In 2023, Lifted spent $342,068 to purchase net assets from Oculus CRS, LLC. 

In comparison, net cash used in investing activities was $916,119 during the year ended December 31, 2022. Net cash used in investing activities in 2022 related to net purchases of fixed assets. 

Cash Flows From Financing Activities

During the year ended December 31, 2024, net cash used in financing activities was $770,951, which is primarily driven by payments on the Surety Bank loans of $517,213 and purchases of shares of the Company’s common stock of $240,240. During the year ended December 31, 2024, net cash decreased by $2,210,592, and we had $2,146,947 of unrestricted cash and $1,000,000 of restricted cash at December 31, 2024. 

During the year ended December 31, 2023, net cash provided by financing activities was $3,704,945, primarily driven by the proceeds from the Surety Bank loans of $3,910,000, offset by the payment of debt financing costs of $115,697, and payments of dividends to the Company’s Series A and Series B Convertible Preferred stockholders totaling $20,961. During the year ended December 31, 2023, net cash increased by $1,826,916, and we had $4,357,539 of unrestricted cash and $1,000,000 of restricted cash at December 31,