Company: LIFD
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001332
Chunk: 47

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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 of $19,098. In comparison, during the quarter ended June 30, 2024, total net non-operating Other Expenses of $74,993 primarily consisted of interest expense of $90,487 and loss on disposal of fixed assets of $37,986, offset by interest income of $41,013.

During the six months ended June 30, 2025, total net non-operating Other Expenses of $268,502 primarily consisted theft expense of $350,000 and interest expense of $157,467 offset by settlement income of $177,500 and interest income of $51,982. In comparison, during the six months ended June 30, 2024, total, net non-operating net Other Expenses of $1,491,615 primarily consisted of the $1,349,467 loss related to the termination of the Jeeter collaboration.

Net Loss

During the quarter ended June 30, 2025, the Company recognized a net loss of $268,950. In comparison, during the quarter ended June 30, 2024, the Company recognized a net loss of $523,212.

During the six months ended June 30, 2025, the Company recognized a net loss of $571,992. In comparison, during the six months ended June 30, 2024, the Company recognized a net loss of $1,664,216.

The Business Loan requires that Borrower shall maintain a minimum 1.50x debt service coverage ratio (“DSCR”) based on Borrower's annual corporate tax return. The DSCR shall be tested annually, beginning with the 2023 return. The DSCR shall be calculated as EBIDA (earnings before interest, depreciation, and amortization) divided by contractual annual debt service payments. Borrower met the DSCR requirement contained in the Business Loan for the year ended December 31, 2023. Surety Bank waived any claim of default based on Borrower’s 2024 DSCR.

 10Table of Contents

Off-Balance Sheet Arrangements 

As of reported period end, the Company has no off-balance sheet arrangements.

Critical Accounting Policies and Estimates

Critical accounting policies and estimates are discussed in NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES of the consolidated financial statements accompanying this Quarterly Report on Form 10-Q.

Tax Provision

Please refer to NOTE 14 – INCOME TAXES for information about the Company’s tax provision. 

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