Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 1268

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 1268
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 Loan requires that Borrower shall maintain a minimum 1.50x 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 has agreed to waive any claim of default based on Borrower’s 2024 DSCR.

Off-Balance Sheet Arrangements

As of reported period end, the Company does not have any off-balance-sheet arrangements that have, or are reasonably likely to have, a current or future effect on the results of operations or financial condition of the Company, including, and without limitation, such considerations as liquidity and capital resources.

 103Table of Contents

Comparison of Operations for the Quarters Ended December 31, 2024 and September 30, 2024

LFTD PARTNERS INC. AND SUBSIDIARY LIFTED LIQUIDS, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)        For the Three Months Ended December 31, 2024    For the Three Months Ended September 30, 2024  Net Sales $8,479,605  $8,691,675 Cost of Goods Sold  6,420,952   4,933,780 Gross Profit  2,058,653   3,757,895 Operating Expenses:        Payroll Expenses  1,408,312   1,360,035 Professional Fees  195,378   156,357 Bank Charges and Merchant Fees  134,414   130,831 Advertising and Marketing  317,605   470,676 Bad Debt (Income)/Expense  (835,820)  864,345 Depreciation and Amortization  62,265   58,124 Collab Commission and Royalty Expense  103,100   180,571 Other Operating Expenses  601,081   677,659 Total Operating Expenses  1,986,335   3,898,598 Income/(Loss) From Operations  72,318   (140,703)Other Income/(Expenses)