Company: LIFD
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000819
Chunk: 203

Company: LFTD PARTNERS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 203
---
. 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 Bendistillery, Bend Spirits or Ablis is warranted at this point in time. 

NOTE 5 – PROPERTY AND EQUIPMENT, NET Property and Equipment consist of the following: Asset Class March 31, 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   633,094   633,094 Vehicles  64,309   64,309 Trade Show Booths  214,457   214,457 Sub-total: $3,837,426  $3,760,281          Less: Accumulated Depreciation   (1,195,297)  (1,055,666)  $2,642,129  $2,704,615 

 F-47Table of Contents

 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 machinery and equipment and 5511 Building of $77,367 for the quarter as overhead to finished goods, depreciation expense of $62,265 was recognized during the three months ended March 31, 2025.  In comparison, after allocating depreciation of machinery and equipment and 5511 Building of $76,966 for the quarter as overhead to finished goods, depreciation expense of $48,798 was recognized during the three months ended March 31, 2024. 

NOTE 6 – NOTES RECEIVABLE The William Noyes Webster Foundation, Inc. The Foundation, a