Company: LIFD
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001332
Chunk: 87

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 87
---
 March 6, 2025, Plaintiff filed a second amended complaint alleging that the Company misrepresented various products. The Company will continue to vigorously defend against the meritless claims. The Company has filed a motion to dismiss and is waiting for the Court’s decision.

 F-18Table of Contents

 Lifted currently is involved in one pending lawsuit, as the plaintiff:  (1) Lifted Liquids, Inc. v. Asad Awawdeh and Habib Cash and Carry SD, Inc. – The Company has filed an action seeking to recover approximately $98,000 in damages resulting from Defendants’ failure to pay for product they ordered. The matter has been filed in California and the Company intends to pursue the action and recover its damages. Lifted is currently in a dispute with one of its former insurance carriers, and there is a possibility that this dispute could result in Lifted filing a lawsuit against such insurance carrier to recover a portion of the premiums paid to such insurance carrier.  Settlement Agreement with Chris Hillseth Enterprises Corporation and Ameri-Kal LLC  The Company had filed an action seeking to recover amounts paid for equipment that did not work as represented. On or about April 28, 2025, the parties resolved the matter via a signed settlement agreement, pursuant to which the Company will recoup a total of $177,500 that will be paid by Defendants to the Company in installments over a period of six months. Dismissal of Loree Perry, Individually and on Behalf of All Others Similarly Situated v. Sheikhani Group, et al Plaintiff added the Company and four of its officers to a putative class action case against a Texas retailer, several cannabis industry manufacturers, testing companies, and related individuals in the United States District Court for the Eastern District of Texas. The Amended Complaint alleges that Plaintiff bought two of the Company’s vape cartridge products and that the delta-9-THC cannabinoid content of those and additional unspecified “many” of the Company’s other products was underreported. The Amended Complaint alleges that all of the Defendants misrepresent the nature of their products and are intentionally engaging in ongoing illegal sales. The Amended Complaint asserts seven causes of action including a civil RICO claim and alleges the existence of 1,000 “John Doe” defendants. The Company contends that this lawsuit is without merit and filed a motion to dismiss. On March 8, 2025, Plaintiff has voluntarily dismissed the complaint