Company: LIFD
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000819
Chunk: 286

Company: LFTD PARTNERS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 1
Chunk 286
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Description of Legal Proceedings 

Lifted currently is involved in four pending lawsuits, two as the plaintiff, and two as the defendant. Please refer to NOTE 11 – LEGAL PROCEEDINGS for more information. 

ITEM 1A. RISK FACTORS

The Risk Factors identified under the heading “SUMMARY OF RISK FACTORS” under Part I and the risk factors described in Item 1A. under the heading “RISK FACTORS” in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 31, 2025 continue to represent the most significant risks to the Company’s future results of operations and financial conditions, without further modification or amendment, except as follows:

 (1)The Senate of the State of Florida has passed legislation that, if not vetoed by the Governor of Florida, and if not stayed by court order, could materially adversely affect our sales of hemp-derived cannabinoid-infused products in Florida and the trading price of our common stock; (2)The Senate of the State of Texas has also passed legislation that, if not vetoed by the Governor of Texas, and if not stayed by court order, could materially adversely affect our sales of hemp-derived cannabinoid-infused products in Texas and the trading price of our common stock; (3)Opponents of our industry are known to be lobbying for legislation similar to the bills passed in the Senates of the states of Florida and Texas, intending to curb or eliminate the sales of hemp-derived products in other jurisdictions including but not limited to the states of Illinois, and if such legislation becomes law, it could materially adversely affect our sales of hemp-derived cannabinoid-infused products in those jurisdictions and the trading price of our common stock (4)The visibility and trading volume of our common stock are low, and any material increase in such visibility and trading volume is likely dependent upon our ability to list our common stock on a recognized stock exchange, but our ability to satisfy the listing requirements for a recognized stock exchange cannot be guaranteed or assured. A continued inability to satisfy the listing requirements for a recognized stock exchange could materially adversely affect the visibility, trading volume, and trading price of our common stock.

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ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Reference is hereby made to the disclosures above in the following sections, which are hereby incorporated by reference thereto: 

NOTE 9