Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 282

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 282
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75M Note. On July 5, 2022, we entered into an agreement (“Acceleration Agreement”) with NWarrender. Under the terms of the Acceleration Agreement, we were obligated to repay the remaining principal balance as follows: $1,374,999 on or before December 31, 2022, and $458,335 on or before December 31, 2024. Then, on July 8, 2022, we prepaid $916,666, along with accrued interest, and then, on July 25, 2022, we prepaid the remaining principal balance of $916,668 and accrued interest in full, and all collateral securing the $2.75M Note was released. 

Also impacting the net cash used in financing activities during the year ended December 31, 2022 was the repurchase of $150,000 of Company common stock, repayment of the finance lease liability of $70,267, and payments of dividends to the Company’s Series A and Series B Convertible Preferred stockholders totaling $23,149, offset by proceeds of $50,000 from the exercise of warrants and options. During the year ended December 31, 2022, net cash increased by $1,927,892, and we had $3,530,623 of unrestricted cash and no restricted cash at December 31, 2022.

 98Table of Contents

Comparison of the Consolidated Balance Sheets as of December 31, 2024 and December 31, 2023

The following table summarizes our Company’s current assets, current liabilities and working capital as of December 31, 2024 and December 31, 2023.

  December 31, 2024  December 31, 2023 Current Assets $16,928,005  $21,668,980 Current Liabilities  6,084,011   8,686,744 Working Capital  10,843,994   12,982,236 

As of December 31, 2024, we had cash and restricted cash of $3,146,947; in comparison, as of December 31, 2023, we had cash and restricted cash of $5,357,539.

As of December 31, 2024, we reported prepaid expenses of $1,598,654, primarily consisting of prepaid inventory of $1,470,957. In comparison, as of December