Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 2065

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 2065
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 a month-to-month basis from March 1, 2025 until May 31, 2025.  Lifted is uncertain whether or not an extension beyond May 31, 2025 will be entered into. Third Party Facilities From time to time, the Company maintains inventory at third party facilities around the USA.

F-31Table of Contents

Balance Sheet Classification of Operating Lease Assets and Liabilities Asset BalanceSheet Line December 31,2024 Operating Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $226,646 Non-Current Assets $1,119,434        Liability BalanceSheet Line December 31,2024 Operating Lease Liabilities Current Liabilities $224,460   Non-Current Liabilities  937,988  Lease Costs The table below summarizes the components of lease costs for the following periods:    For the Twelve Months Ended December 31, Lease Cost: 2024  2023  2022 Finance lease expense:         Amortization of Right-of-Use Assets $-  $41,226  $46,273 Interest on lease liabilities  -   85,873   70,507 Operating lease expense  305,587   210,626   115,239 Total $305,587  $337,725  $232,019  Weighted Average Discount Rate In calculating the right-of-use assets and liabilities, the Company uses a discount rate based on a published range of conventional commercial mortgage interest rates corresponding to the life of each lease. The Company uses the higher end of the range due to the Company’s limited credit history. The Company’s weighted average discount rate for all its right-of-use liabilities as of the end of the reported period is 9.65%. Maturity Analysis The following table is the maturity analysis of the Company’s operating and finance leases as of the reported period end. Maturity Analysis as of December 31, 2024: Finance  Operating 2025 $-  $327,062 2026  -   337,567 2027  -   348,411 2028  -   294,626 2029  -   119,967 Thereafter  -   - Total