Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 1817

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1817
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955)  (916,119)Net Cash Used In Financing Activities  (770,951)  3,704,945   (193,416)

Cash Flows From Operating Activities

Net cash used in operating activities was $960,067 for the year ended December 31, 2024. During the year ended December 31, 2024, net cash used in operating activities primarily resulted from a net loss of $1,857,429, which includes net, non-cash expenses of $3,861,942, offset by cash used for working capital, primarily inventory, and paydowns of accounts payable and accrued liabilities. Non-cash expenses are primarily related to spoiled and written off inventory of $1,550,599, bad debt expense of $1,469,078, and the loss on the Jeeter collaboration of $1,349,467. 

Net cash provided by operating activities was $638,925 for the year ended December 31, 2023. Net cash provided by operating activities in 2023 was primarily generated from net income of $2,159,007, which includes non-cash charges for Deferred Contingent Stock expense of $2,138,175 and spoiled and written off inventory of $2,056,603, offset by cash used for working capital, primarily inventory, and income taxes. 

Net cash provided by operating activities was $3,037,426 for the year ended December 31, 2022. Net cash provided by operating activities in 2022 was generated from net income of $7,196,327, which includes non-cash charges for inventory write-downs of $4,418,922 and sales allowances of $939,496, offset by cash used for working capital, primarily inventory, payment of the company-wide Bonus Pool for 2021 (the “Modified 2021 Bonus Pool Amount”), payment of management bonuses, deferred revenue, and income taxes. 

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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