Company: LIFD
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001862
Chunk: 120

Company: LFTD PARTNERS INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 120
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5, $379,749 of overhead expenses were allocated to finished goods. In comparison, at December 31, 2024, $383,646 of overhead expenses were allocated to finished goods.

As of September 30, 2025 and December 31, 2024, our other assets primarily included goodwill of $23,092,794, which was comprised of $22,292,767 of goodwill from the acquisition of Lifted on February 24, 2020, and $800,027 of goodwill from Lifted’s purchase of nearly all of the assets of Oculus CRS, LLC, and Lifted’s merger with Oculus CHS Management Corp. in April 2023.

Also, as of both September 30, 2025 and December 31, 2024, our other assets included our investments in Ablis and Bendistillery, which total $1,896,200. Net fixed assets as of September 30, 2025 and December 31, 2024 were $2,375,501 and $2,704,615, respectively.

In addition, as of both September 30, 2025 and December 31, 2024, our other assets also included restricted cash of $1,000,000. We are required by our Business Loan Agreement with Surety Bank to maintain a minimum depository balance of $1,000,000 with Surety Bank for the duration of our Business Loan. The Business Loan matures on December 14, 2028.

As of September 30, 2025, current liabilities of $4,827,091 primarily consisted of accounts payable and accrued expenses of $2,889,818, deferred revenue of $892,548 and the current portion of the notes payable to Surety Bank of $662,387. In comparison, as of December 31, 2024, current liabilities of $6,084,011 primarily consisted of accounts payable and accrued expenses of $4,563,464, deferred revenue of $674,676 and the current portion of the notes payable to Surety Bank of $559,418.  The year-to-date decline in current liabilities was primarily attributable to a year-to-date reduction in our accounts payable and accrued expenses due to the timing of payments to suppliers and other vendors.

The second installment of the Oculus CHS Management Corp. merger consideration was paid by Lifted to Chase and Hagan Sanchez following the first anniversary of the closing of the merger, which was April 28