Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 281

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 281
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 on the Surety Bank loans of $517,213 and purchases of shares of the Company’s common stock of $240,240. During the year ended December 31, 2024, net cash decreased by $2,210,592, and we had $2,146,947 of unrestricted cash and $1,000,000 of restricted cash at December 31, 2024. 

During the year ended December 31, 2023, net cash provided by financing activities was $3,704,945, primarily driven by the proceeds from the Surety Bank loans of $3,910,000, offset by the payment of debt financing costs of $115,697, and payments of dividends to the Company’s Series A and Series B Convertible Preferred stockholders totaling $20,961. During the year ended December 31, 2023, net cash increased by $1,826,916, and we had $4,357,539 of unrestricted cash and $1,000,000 of restricted cash at December 31, 2023. 

During the year ended December 31, 2022, net cash used in financing activities was $193,416. On December 30, 2021, the Company repaid all principal and interest due under the $3.75M Note. NWarrender kept $1,000,000 of the repayment of the $3.75M Note, plus accrued interest, and on January 3, 2022, reloaned $2,750,000 to LIFD and Lifted at the rate of 2.5% (the “$2.75M Note”). The $2.75M Note payable jointly by the Company and Lifted to NWarrender was secured by a perfected first lien security interest that encumbers all of the assets of the Company and Lifted. The Company was obligated to pay off the principal of the $2.75M Note in five semi-annual payments to NWarrender of $458,333 and a sixth and final semi-annual payment to NWarrender of $458,335, in each case plus accrued interest, starting on June 30, 2022. 

On June 7, 2022, LFTD Partners prepaid $916,666 of the principal of the $2.75M Note, and $29,384 of related accrued interest through that date, which left $1,833,334 remaining principal on the $2.