Company: LIFD
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001332
Chunk: 69

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 of products, direct labor, co-packing fees, freight and shipping charges, and certain quality control costs, such as lab testing costs.  Spoiled and obsolete inventory that is written off is a component of cost of goods sold. The process of determining obsolete or spoiled inventory involves:   1)Identifying raw goods that would no longer be used in the manufacture of finished goods; 2)Identifying expired raw goods; 3)Identifying finished goods that would no longer be sold or that are slow moving; 4)Identifying finished goods that are expired; and 5)Valuing and expensing raw and finished goods that would no longer be sold.

 F-7Table of Contents

 Basic and Diluted Earnings (Loss) Per Common Share – Basic earnings (loss) per common share is determined by dividing earnings (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per common share is calculated by dividing earnings (loss) by the weighted-average number of common shares and dilutive common share equivalents outstanding during the period. When dilutive, the incremental potential common shares issuable upon exercise of stock options and warrants are determined by the treasury stock method. The following table summarizes the calculations of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2025 and 2024:   For the Three Months Ended    For the Six Months Ended   June 30,    June 30,   2025  2024    2025  2024 Net Loss $(268,950) $(523,212) Net Loss $(571,992) $(1,664,216)                   Weighted average number of common shares outstanding:         Weighted average number of common shares outstanding:        Basic  14,822,678   14,759,282  Basic  14,822,678   14,782,480 Diluted  14,822,678   14,759,282  Diluted  14,822,678   14,782,480                    Basic Net Loss per Common Share $(0.02) $(0.04) Basic Net Loss per Common Share $(0.04) $(0.11)Diluted Net Loss per Common Share $(0.02)