Company: LIFD
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001332
Chunk: 93

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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,240   4,014   11,155   11,010 Revision of prior years' provision to return filing  6,649   -   570   - Change in estimated future income tax rates  32,224   5,054   64,024   (17,274)Change in valuation allowance  (27,182)  (5,111)  (53,815)  17,469 Other  (1)  -   (1)  - Total Provision/(Benefit) for Income Taxes $(54,828) $(134,526) $(134,536) $(532,478) Deferred tax assets and liabilities as of June 30, 2025 and December 31, 2024 were as follows:   June 30,  December 31,   2025  2024 Deferred Tax Assets:      Operating Loss Carry forwards $ 244,218  $434,921 Stock-Based Compensation 2,723,828  2,780,165 Sales Allowances  90,652   80,371 Accrued Related Party Expenses  114   315 Interest Carryforward  78,806   54,790 Allowance for Doubtful Accounts  294,878   225,588 Lease Liabilities  15,497   14,676 Other  1,444   - Less: Valuation allowance for stock-based compensation  (2,601,906)  (2,655,721)Total Deferred Tax Assets  847,531   935,105          Deferred Tax Liabilities:        Depreciation & Amortization  (197,471)  (419,971)Other  -   - Total Deferred Tax Liabilities  (197,471)  (419,971)         Net Deferred Tax Assets/(Liabilities) $650,060  $515,134 

 F-22Table of Contents

NOTE 15 – DEBT On December 14, 2023, the Company entered into two loan arrangements with a single lender: the $3,000,000 Working Capital Loan and the $910,000 Building Loan. The Working Capital Loan bears interest at a fixed