Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 253

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 253
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 States. There can be no assurances that the federal government of the United States will not seek to enforce the applicable laws against us. The consequences of such enforcement would be materially adverse to us and our business, including our reputation, profitability and the market price of our publicly traded shares, and could result in the forfeiture or seizure of all or substantially all of our assets.

Violations of any federal laws and regulations could result in significant fines, penalties, administrative sanctions, convictions or settlements arising from civil proceedings conducted by either the federal government or private citizens, or criminal charges, including, but not limited to, disgorgement of profits, cessation of business activities or divestiture. It is further possible that Department of Justice or an aggressive federal prosecutor could allege that our Company, executives, and board of directors, and, potentially, our shareholders, “aided and abetted” violations of federal law by providing finances and services to our Company. Under these circumstances, federal prosecutors could seek to seize our assets, and to recover the “illicit profits” generated by our Company. In these circumstances, the Company’s operations would cease, shareholders may lose their entire investments and directors, officers and/or shareholders may be left to defend any criminal charges against them at their own expense and, if convicted, be sent to federal prison.

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Additionally, there can be no assurance as to the position the Trump administration or any future administration may take on cannabis, and a new administration could decide to enforce federal laws against state-regulated cannabis companies. Any enforcement of current federal cannabis laws could cause significant financial damage to us and our shareholders.

These results could have a material adverse effect on us, including, but not limited to, our reputation and ability to conduct business, our holding (directly or indirectly) of cannabis licenses in the United States, the marketability of our securities, our financial position, operating results, profitability or liquidity or the trading price of our common stock. In addition, it is difficult to estimate the time or resources that would be needed for the investigation or final resolution of any such matters because: (1) the time and resources that may be needed depend on the nature and extent of any information requested by the authorities involved, and (2) such time or resources could be substantial. The foregoing risks may have a material adverse effect on our Company and the trading price of our common stock.

State regulation of cannabis is uncertain

There is no assurance that state laws legalizing and regulating the sale and use of cannabis will not be repealed