Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 2812

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 2812
---
 gummies, joints and blunts. 

In the latter half of the second quarter of 2024, Lifted launched Mielos, a new brand of health and wellness products that do not contain hemp derivatives. 

In the third quarter of 2024, Lifted launched a new brand called Rebel Energy Gummy, which does not contain hemp-derivatives.

Lifted is the worldwide, exclusive manufacturer and seller of Diamond Supply Co. (www.DiamondSupplyCo.com) and Cali Sweets hemp-derived products. Lifted is also the exclusive manufacturer and seller in the USA of hemp-derived products for a subsidiary of a large, publicly traded US marijuana company. Lifted also manufactures and sells similar hemp-derived products to private label clients. 

 6Table of Contents

Government Laws and Regulations

Lifted primarily sells products containing psychoactive hemp-derived cannabinoids, or other ingredients. The majority of Lifted’s products contain hemp-derived cannabinoids (such as delta-8-THC and delta-9-THC). Lifted also sells other psychoactive and consumable products, including nicotine products. Lifted is attempting to only conduct business to the extent permitted under applicable laws and regulations. 

The manufacture and/or sale of hemp-derived and psychoactive products involve significant risks associated with federal, state and local laws and regulations, and regulatory agencies, that have the potential to bankrupt Lifted and the Company, or at least to negatively impact the trading price of our common stock.

In regard to the sale of hemp-derived products in the United States, despite cannabis having been legalized at the state level for medical use in many states and for adult recreational use in a number of states, cannabis, other than plants of the same genus that meet the definition of industrial hemp, continues to be categorized as a Schedule I controlled substance under the federal Controlled Substances Act (“CSA”), and subject to the Controlled Substances Import and Export Act (“CSIEA”). 

On December 20, 2018, President Donald J. Trump signed the Agricultural Improvement Act of 2018, which is more commonly known as the “2018 Farm Bill”. The 2018 Farm Bill legalizes hemp cultivation and declassifies hemp as a Schedule I controlled substance. However:

(1) Farm Bill: As of the date of this Form 10-K, the Agriculture Improvement Act of 2018 (commonly known as the 2018 Farm Bill) has been extended twice and is now set to expire on September 30, 2025