Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 2463

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 2463
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 (1) selection and oversight of our independent accountant; (2) establishing procedures for the receipt, retention and treatment of complaints regarding accounting, internal controls and auditing matters; and (3) engaging outside advisors. Our Board of Directors has determined that each of its members is able to read and understand fundamental financial statements and has substantial business experience that results in that member’s financial sophistication. Accordingly, the Board of Directors believes that each of its members has the sufficient knowledge and experience necessary to fulfill the duties and obligations that an audit committee member should have for a business such as the Company.

Board Meetings 

Due to the current size and scope of our operations and size and geographic diversity of our Board of Directors, much of the Board’s decision making is made through telephone calls and intermittent informal meetings; when formalization is necessary, the Board conducts formal meetings or acts by written consent. During the year ended December 31, 2024, we held only telephonic Board Meetings and there were no in-person Board Meetings attended by all directors.

Nominating Committee

We have a nominating committee consisting of the following members: Joshua A. Bloom, Sharial Howard, Vincent J. Mesolella, Richard E. Morrissy and Kevin J. Rocio. The Company has not adopted a Nominating Committee charter. During the year ended December 31, 2024, Richard E. Morrissy was the nominating committee Chairman. As described in NOTE 14 – SUBSEQUENT EVENTS, on February 18, 2025, director Kevin J. Rocio was appointed as the new Chair of the Nominating Committee of the Board of Directors, replacing Richard E. Morrissy. 

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Investment Committee

Our board of directors has appointed an Investment Committee currently consisting of our Chief Executive Officer Gerard M. Jacobs, our President and Chief Financial Officer William C. Jacobs, and our Chief Operating Officer Nicholas S. Warrender.

Compensation Committee

We have a compensation committee consisting of Joshua A. Bloom, Sharial Howard, Vincent J. Mesolella, Richard E. Morrissy, and Kevin J. Rocio as members. The Company has not adopted a Compensation Committee charter. Joshua A. Bloom serves as the committee’s chairman.

Code of Ethics

We currently have not adopted a code of ethics due to our limited size and operations. We have considered adopting a Code of Business Conduct and Ethics (“Code”) in the past. We expect to adopt a Code or something similar in the future. The