Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 502

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 502
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Under the terms of the Third 58th Lease, Lifted leased approximately 6,132 square feet of space and paid an initial base square foot charge of $10.75 per square foot per annum, with increases in rent each year during the term as set out in the table titled “Rent Schedule” below. Lifted was also responsible for paying its proportionate share of real estate taxes and other operating costs. This lease was accounted for as an operating lease. Rent Schedule Date Base Monthly Rent 07/01/2022 – 06/30/2023 $5,493.25 07/01/2023 – 06/30/2024 $5,630.58 07/01/2024 – 06/30/2025 $5,771.35 07/01/2025 – 06/30/2026 $5,915.63 07/01/2026 – 06/30/2027 $6,063.52  Sublease of Space Located at 2701-09 West Fulton PH, Chicago, Illinois 60612 On July 6, 2022, Lifted entered into a sublease for office space in Chicago, Illinois located at 2701-09 West Fulton PH, Chicago, Illinois 60612. The sublease was terminated as of June 30, 2024. Prior to the termination of the sublease, the sublease cost $3,000 per month, plus supplemental lease related charges such as real estate taxes and common expenses of the property that were commercially typical costs. The sublease was retroactively effective as of June 1, 2022 and for a five-month term that ended on October 31, 2022. Thereafter, until it was terminated, the sublease operated on a month-to-month basis. The purpose of the sublease was to make available office space for the members of Lifted’s sales team who live in Chicago. These salespeople were spending significant time in their cars commuting from Chicago to Kenosha. The sublessor was Lifted’s former Chief Strategy Officer. The sublease was structured so that the sublessor's lease payment obligations to the landlord were passed on to Lifted on a dollar-for-dollar basis, such that the sublessor did not realize a cashflow profit or loss from the sublease. Since the term was less than twelve months, this lease was not recorded