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

Company: LFTD PARTNERS INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 10
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 the Company purchased 4.99% of the common stock of each of Ablis Holding Company, Bendistillery Inc., and Bend Spirits, Inc. for an aggregate purchase price of $1,896,200. In the second quarter of 2025, Bend Spirits was merged into Bendistillery for operational efficiency. On July 14, 2025, the management of LFTD Partners had a video conference with the officers of Ablis and Bendistillery. During this meeting, the management of those companies discussed the performance of Ablis and Bendistillery during the three months and six months ended June 30, 2025. Based upon the financial and non-financial information that was shared with LFTD Partners during that conference call, the management of LFTD Partners believes that no impairment of the value of Ablis and Bendistillery is warranted at this point in time. 

NOTE 5 – PROPERTY AND EQUIPMENT, NET Property and Equipment consist of the following: Asset Class June 30, 2025  December 31, 2024 Building $805,545  $805,545 Land  430,754   430,754 Machinery & Equipment  1,532,103   1,454,958 Furniture & Fixtures  138,184   138,184 Computer Equipment  18,979   18,979 Building & Leasehold Improvements   640,499   633,094 Vehicles  64,309   64,309 Trade Show Booths  214,457   214,457 Sub-total: $3,844,832  $3,760,281          Less: Accumulated Depreciation   (1,334,390)  (1,055,666)  $2,510,442  $2,704,615  The useful lives of the Company’s property and equipment by asset class are as follows: Asset ClassEstimated Useful LifeBuilding39 yearsLandIndefiniteMachinery & Equipment60 monthsBuilding Improvements60 monthsLeasehold ImprovementsThe shorter of the length of the lease or 60 monthsTrade Show Booths36 monthsVehicles60 monthsComputer Equipment60 monthsFurniture & Fixtures60 months In the Consolidated Statements of Operations, depreciation expense is consolidated with amortization expense. After allocating depreciation of