Company: LIFD
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000819
Chunk: 175

Company: LFTD PARTNERS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 175
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 collectively “Transactions”) involving LIFD and/or LIFD Subsidiaries and Affiliates that are mutually acceptable to all five of the Senior Executives; and (4) not to directly or indirectly sell or transfer any right, title or interest in or to some or all of their LIFD stock, stock options or warrants in any Transaction that could or might result in a change of control of LIFD, unless such Transaction is mutually acceptable to all five of the Senior Executives and is approved by a majority of the LIFD Board. Terminations of Letters of Intent As described in NOTE 14 – SUBSEQUENT EVENTS, on April 11, 2025, the Company formally notified the counterparties to the following Letters of Intent, each dated as of February 19, 2025, that such Letters of Intent have been terminated, effective immediately: 1. Letter of Intent – Sustainable Innovations Inc. and Marijuana Subsidiaries 2. Letter of Intent – TMD Ventures, LLC 3. Letter of Intent – Sustainable Properties, LLC and Affiliates 4. Letter of Intent – Sustainable Growers, LLC and Affiliates 5. Letter of Intent – Boards of Directors and Executives  After extensive review and negotiations, the Company determined that the conditions, expectations, and objectives underlying the Letters of Intent could not reasonably be satisfied on acceptable terms. As a result, the Company has elected to terminate all such Letters of Intent in accordance with their respective termination provisions. The termination applies to all related transactions and agreements contemplated under the aforementioned Letters of Intent, which are now considered null and void with no further force or effect. The Company will not proceed with any of the transactions contemplated by the terminated Letters of Intent. Capital Raise We may deem it necessary or desirable in the future to raise additional capital in order to build our available working capital, to close future acquisitions, to potentially expand the 5511 Building, or to pay other corporate obligations. No guarantee or assurance can be made that such capital can be raised on acceptable terms, if at all.  If we were ever to proceed forward with an equity raise, it may be in conjunction with a potential listing of our common stock on a stock exchange. However, there can be no guarantee or assurance that any such debt and/or equity capital raise or listing will be completed on acceptable terms, if at all. If we were to acquire