Company: LIFD
Filing Date: 2025-04-04
Form Type: 8-K
Source: 0001096906-25-000425
Chunk: 1

Company: LFTD PARTNERS INC.
Filing Date: 2025-04-04
Form: 8-K
Item: Item 8.01
Chunk 1
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Item 8.01. Other Events.

On April 1, 2025, the Company converted $350,000 of its cash into USD Coin (USDC), a digital stablecoin pegged to the U. S. dollar. Shortly thereafter, the digital wallet containing the USDC was compromised by an unauthorized and unknown third party, resulting in the theft of the full amount.

The Company promptly reported the incident to the U. S. Federal Bureau of Investigation and continues to cooperate fully in the ongoing investigation. The Company's outside law firm is also advising the Company regarding the matter. At this time, the Company is unable to predict whether any of the stolen funds will be recovered.

As disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the Company’s cash position, which included $1,000,000 of restricted cash, decreased by approximately 41% to $3,146,947 from $5,357,539 at the end of the prior fiscal year.

Forward-Looking Statements