Company: LIFD
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000819
Chunk: 7

Company: LFTD PARTNERS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 7
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ifted maintains proprietary formulations, a trademark for “Urbar”, and other trade secrets. Lifted does not currently own any registered patents. Research and Development Expenditures Lifted’s research and development expenditures consist primarily of compensation and related costs for third parties responsible for the R&D of new products. Research and development costs are expensed as they are incurred.  Marketing  Lifted primarily markets itself by networking throughout the industry through word of mouth, through its website, using online ads, by attending trade shows, and via other marketing campaigns. In the past, Lifted has also engaged public relations, marketing and search engine optimization firms to improve Lifted’s public relations, marketing and search engine optimization efforts. There can be no guarantee or assurance that Lifted’s marketing efforts will be successful or result in any additional sales or profits for Lifted. Costs and Effects of Compliance With Environmental laws To Lifted’s knowledge, Lifted does not currently use or generate any hazardous materials in its operations. Ablis, Bendistillery and Bend Spirits On April 30, 2019, we closed on the acquisition of 4.99% of the common stock of each of CBD-infused beverages maker Ablis Holding Company (“Ablis”) (www.Ablis.shop), and of distilled spirits manufacturers Bendistillery Inc. d/b/a Crater Lake Spirits (“Bendistillery”) (www.CraterLakeSpirits.com) and Bend Spirits, Inc. (“Bend Spirits”), all located in Bend, Oregon.  Ablis manufactures and sells flavored, lightly carbonated canned beverages, including “functails” – a term coined by Ablis which means a beverage crafted with hemp-derived THC and/or CBD, and other high-quality functional ingredients such as caffeine from guarana, L-theanine and ashwagandha. Ablis also sells CBD-infused muscle rub, among other products.  Bendistillery manufactures and sells straight and flavored vodka and gin and various types of whiskey under its brand Crater Lake Spirits.  Bank Financing and Purchase of Headquarters Building On December 14, 2023, LFTD Partners and Lifted (together the “Borrower”), jointly borrowed a total of $3,910,000 from Surety Bank, of DeLand, Florida (“Lender”). The Lender made two five-year loans to the Borrower, as joint borrowers: (1) a