Company: LIFD
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001862
Chunk: 12

Company: LFTD PARTNERS INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 12
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 Less: Accumulated Depreciation   (1,471,862)  (1,055,666)  $2,375,501  $2,704,615  The useful lives of the Company’s property and equipment by asset class are as follows: Asset ClassEstimated Useful LifeBuilding39 yearsLandIndefiniteMachinery & Equipment60 monthsBuilding Improvements60 monthsLeasehold ImprovementsThe shorter of the length of the lease or 60 monthsTrade Show Booths36 monthsVehicles60 monthsComputer Equipment60 monthsFurniture & Fixtures60 months In the Consolidated Statements of Operations, depreciation expense is consolidated with amortization expense. Depreciation expense related to machinery and equipment and depreciation expense related to the 5511 Building, totaling $75,311 for the three months ended September 30, 2025, and $229,259 for the nine months ended September 30, 2025, were allocated as overhead to finished goods as of September 30, 2025. After this allocation, depreciation expense of $62,161 and $186,938, respectively, was recognized during the three and nine months ended September 30, 2025. In comparison, depreciation expense related to machinery and equipment and depreciation expense related to the 5511 Building, totaling $75,537 for the three months ended September 30, 2024, and $227,921 for the nine months ended September 30, 2024, were allocated as overhead to finished goods as of September 30, 2024. After this allocation, depreciation expense of $58,124 and $156,357, respectively, was recognized during the three and nine months ended September 30, 2024.

 F-11Table of Contents

NOTE 6 – THEFT OF INVENTORY During the quarter ended September 30, 2025, total net non-operating Other Expenses of $441,977 primarily consisted of $358,072 of Loss From Inventory Theft. In July 2025, $335,460 worth of finished goods were stolen off of Lifted’s third-party shipper's truck just after leaving Lifted's co-packer's facility in Orange County, California. The thieves were apprehended by authorities, and Lifted filed an insurance claim with the shipping company's insurance company. Lifted’s co-packer credited Lifted $40,000. As described in NOTE 18 – SUBSEQUENT EVENTS, on November