Company: LIFD
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001862
Chunk: 149

Company: LFTD PARTNERS INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 149
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250,000.

Also included in Loss From Inventory Theft for the quarter ended September 30, 2025 is $22,612 worth of finished goods that were stolen in September 2025 in transit to a customer. Lifted has filed an insurance claim with the shipping company's insurance company, but it is an unknown how much, if any, of the stolen product will be reimbursed by the insurance company.  

In comparison, during the quarter ended September 30, 2024, net non-operating Other Expenses of $48,381 primarily consisted of interest expense of $88,293 offset by interest income of $39,213.

During the nine months ended September 30, 2025, total net non-operating Other Expenses of $710,479 primarily consisted of $358,072 of Loss From Inventory Theft, Theft Expense of $350,000 and Interest Expense of $230,948 offset by Settlement Income of $177,500 and Interest Income of $75,677. In comparison, during the nine months ended September 30, 2024, total net non-operating Other Expenses of $1,539,996 primarily consisted of the $1,349,467 loss related to the termination of the Jeeter collaboration and interest expense of $271,630.

Net Income/(Loss)

During the quarter ended September 30, 2025, the Company recognized Net Income of $634,257. In comparison, during the quarter ended September 30, 2024, the Company recognized a Net Loss of $194,399.

During the nine months ended September 30, 2025, the Company recognized Net Income of $62,265. In comparison, during the nine months ended September 30, 2024, the Company recognized a Net Loss of $1,858,615.

 10Table of Contents

The Business Loan requires that Borrower shall maintain a minimum 1.50x debt service coverage ratio (“DSCR”) based on Borrower's annual corporate tax return. The DSCR shall be tested annually, beginning with the 2023 return. The DSCR shall be calculated as EBIDA (earnings before interest, depreciation, and amortization) divided by contractual annual debt service payments. Borrower met the DSCR requirement contained in the Business Loan for the year ended December 31, 2023. Surety Bank waived any claim of default based on Borrower’s 2024 DSCR. 

Off-Balance Sheet Arrangements 

As of reported period