Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 3082

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 3082
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, breached an implied warranty, and was unjustly enriched. The Company contends that this lawsuit is without merit and intends to vigorously defend the action. The Company has filed a motion to dismiss the complaint which is being briefed by the parties. (2) Jessie Hooks v. Lifted Made, URB Cannabis, Barry Hollingsworth, Gerard Jacobs, Nicholas Warrender, and Pharmlabs, LLC – Plaintiff had filed suit against the Company, three of its officers, and a testing company in the United States District Court for the Eastern District of Wisconsin alleging that Plaintiff bought 3-4 of the Company’s products, that some of the Company’s products exceeded legal limitations for hemp, and that all of the Defendants misrepresented the nature of the products. In his Amended Complaint, plaintiff asserted seven causes of action including civil RICO claims and alleged the existence of 1,000 “John Doe” defendants. The Company contended that this lawsuit was without merit and vigorously defended the action. On February 6, 2025, the Court ordered that the RICO claims were dismissed with prejudice, and the other claims were also dismissed. The Court noted that the RICO claims were “borderline frivolous”. As described in NOTE 14 – SUBSEQUENT EVENTS, on March 6, 2025, Plaintiff has filed a second amended complaint alleging that the Company misrepresented various products. The Company will continue to vigorously defend against the meritless claims.  Lifted currently is involved in two pending lawsuits, as the plaintiff: (1) Lifted Liquids, Inc. v. Asad Awawdeh and Habib Cash and Carry SD, Inc. – The Company has filed an action seeking to recover approximately $98,000 in damages resulting from Defendants’ failure to pay for product they ordered. The matter has been filed in California and the Company intends to pursue the action and recover its damages. (2) Lifted Liquids, Inc. v. Chris Hillseth Enterprises Corporation and Ameri-Kal LLC – The Company has filed an action seeking to recover amounts paid for equipment that did not work as represented. The case is in its early stages and the Company intends to pursue the action and recover its damages.

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 Lifted is currently in a dispute with one of its former insurance carriers, and there is a possibility that this dispute could result in Lifted filing a lawsuit against such insurance carrier to recover a portion of the premiums paid to such insurance carrier.