Company: LIFD
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001096906-25-001332
Chunk: 30

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 30
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,000 minimum deposit balance with the lender for the life of the Building Loan, which matures on December 14, 2028. The Building Loan is secured by a mortgage on the 5511 Building, an assignment of rents and leases, and a security interest in related furniture, equipment, inventory and intangibles. Both loans contain late payment penalties and extensive cross-collateralization. As of June 30, 2025, the combined outstanding principal was approximately $3.08 million, and any default under these agreements could result in the lender seizing the pledged collateral, including equity in key subsidiaries, intellectual property, and real estate, which could have a catastrophic impact on the Company. The following presents the Working Capital Loan and Building Loan in the Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024:   June 30, 2025  December 31, 2024        Working Capital Loan $2,245,842  $2,509,838 Real Estate Loan  868,113   882,950 Total principal amount  3,113,955   3,392,788 Less: Unamortized debt financing costs  (38,482)  (43,997)Less: Current portion of Surety Bank notes  (587,454)  (559,418)Non-Current portion of Surety Bank notes $2,488,019  $2,789,372  The following represents aggregate payments due on the Working Capital and Building Loans as of June 30, 2025: 2025 $438,470 2026  876,939 2027  876,939 2028  1,618,429 Thereafter  - Total  3,810,777 Less: Interest portion  (696,822)Total principal amount $3,113,955 

NOTE 16 – REVENUES Revenue – The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606. The majority of the Company’s sales are of branded products to distributors, wholesalers, and end consumers. A minority of the Company’s sales are of raw goods to manufacturers, distributors and wholesalers. The majority of the Company’s sales are to distributors, followed by the Company’s sales to wholesalers, and then the Company’s sales to end consumers. Distributors primarily