Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 1906

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1906
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 bad debt expense on September 1, 2015.

NOTE 7 – INTANGIBLE ASSETS, NET Website The cost of developing Lifted’s website, www.urb.shop, which was previously www.LiftedMade.com, was amortized over 32 months, and the website intangible asset was fully amortized as of December 31, 2022.

NOTE 8 – RELATED PARTY TRANSACTIONS  Compensation of Executives and Directors Please refer to the section ITEM 11. EXECUTIVE COMPENSATION for executive and director compensation information.

F-21Table of Contents

 Robert T. Warrender III Mr. Robert T. Warrender III is NWarrender’s brother, and former Director Mr. Robert T. Warrender II’s son. From January 9, 2023 until July 1, 2023, Robert T. Warrender III worked for Lifted as an employee in sales; previously, Mr. Warrender operated as an independent contractor of Lifted. During the years ended December 31, 2023 and 2022, $21,102 and $54,384 in compensation was paid to Mr. Warrender. Sublease of Space Located at 2701-09 West Fulton PH, Chicago, Illinois 60612 On July 6, 2022, Lifted entered into a sublease for office space in Chicago, Illinois located at 2701-09 West Fulton PH, Chicago, Illinois 60612. The sublease was terminated as of June 30, 2024. Prior to the termination of the sublease, the sublease cost $3,000 per month, plus supplemental lease related charges such as real estate taxes and common expenses of the property that were commercially typical costs. The sublease was retroactively effective as of June 1, 2022 and for a five-month term that ended on October 31, 2022. Thereafter, until it was terminated, the sublease operated on a month-to-month basis. The purpose of the sublease was to make available office space for the members of Lifted’s sales team who live in Chicago. These salespeople were spending significant time in their cars commuting from Chicago to Kenosha. The sublessor was Lifted’s former Chief Strategy Officer. The sublease was structured so that the sublessor's lease payment obligations to the landlord were passed on to Lifted on a dollar-for-dollar basis, such that the