Company: LIFD
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001862
Chunk: 108

Company: LFTD PARTNERS INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 108
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 - Non-Current. The loans receivable from ENM as of December 31, 2024 are accounted for as a current asset: Receivable Unit Loans from Extrax NM - Current. The loans receivable from ENM are subject to allowance considerations under ASC 326 and were determined to be fully collectible as of September 30, 2025; thus the Company determined that no allowance against the loans was necessary as of September 30, 2025. ENM owed Lifted a total of $102,686 of invoices as of September 30, 2025 and $153,333 of invoices as of December 31, 2024. 

 F-23Table of Contents

As of September 30, 2025, Lifted and ENM signed an Agreement pursuant to which ENM has acknowledged that it owes Lifted a total $421,835 in loans, and is obligated to pay Lifted a total of $102,686 in invoices; provided that the Agreement acknowledges that the repayment dates for those loans and invoices are uncertain, and that Lifted and ENM intend to restructure their deal no later than December 31, 2025, in a writing to be mutually agreed upon by Bobby Hallock on behalf of ENM and by Nicholas S. Warrender (“NWarrender”) on behalf of Lifted, so that, among other things, such loans and invoices are to be repaid by Extrax to Lifted over time using just Lifted’s share of the free cash flow generated by ENM’s operations under such restructured deal.  Allowance for Sales – An allowance for sales is recorded for estimated future discounts/refunds related to returns of products sold prior to the reporting period end. Described below are some of the reasons why a customer may want to return an ordered item, and how the Company responds in each situation:  1)The ordered item breaks, melts, or separates in transit to the customer. In this case, the Company will replace the broken, melted or separated item at no cost to the customer. 2)The Company sent the wrong item to the customer. In this case, the Company will allow the customer to keep, at no cost to the customer, the item that was mistakenly sent to the customer. The Company will also send the correct product to the customer, at no cost to the customer. 3)The customer ordered the wrong product. In this case, the customer, at his/her own expense,