Company: LIFD
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001332
Chunk: 75

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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 214,457 Sub-total: $3,844,832  $3,760,281          Less: Accumulated Depreciation   (1,334,390)  (1,055,666)  $2,510,442  $2,704,615  The useful lives of the Company’s property and equipment by asset class are as follows: Asset ClassEstimated Useful LifeBuilding39 yearsLandIndefiniteMachinery & Equipment60 monthsBuilding Improvements60 monthsLeasehold ImprovementsThe shorter of the length of the lease or 60 monthsTrade Show Booths36 monthsVehicles60 monthsComputer Equipment60 monthsFurniture & Fixtures60 months In the Consolidated Statements of Operations, depreciation expense is consolidated with amortization expense. After allocating depreciation of machinery and equipment and 5511 Building of $76,581 and $153,948, respectively, as overhead to finished goods, depreciation expense of $62,512 and $124,777, respectively, was recognized during the three and six months ended June 30, 2025. In comparison, after allocating depreciation of machinery and equipment and 5511 Building of $75,417 and $152,383, respectively, as overhead to finished goods, depreciation expense of $49,435 and $98,233, respectively, was recognized during the three and six months ended June 30, 2024.

 F-11Table of Contents

NOTE 7 – INTANGIBLE ASSETS, NET Reference is hereby made to the disclosures above in the following sections, which are hereby incorporated by reference thereto:  NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIESBusiness Combinations and Consolidated Results of Operations and OutlookAccounting for Goodwill NOTE 4 – THE COMPANY’S INVESTMENTS The Company’s Investment in Lifted

NOTE 8 – RELATED PARTY TRANSACTIONS  Ablis During the quarter ended three and six months ended June 30, 2025, Lifted sold $0 and $5,038 worth of finished goods to Ablis.  Robert T. Warrender II In January 2022, Lifted hired Mr. Robert T. Warrender II, NWarrender’s father, as an employee, with a salary of $60,000 per year; Mr. Warrender served as an employee until his passing in December 2024. Mr