Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 1692

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1692
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)  - Loss on Disposal of Fixed Assets  (2,423)  - Interest Income  27,853   16,933 Total Other Income/(Expenses)  (68,394)  460,924 Income/(Loss) Before Provision for Income Taxes  3,924   (56,216)Provision for Income Taxes  (2,738)  79,856 Net Income/(Loss) Attributable to LFTD Partners Inc. common stockholders $1,186  $23,640          Earnings/(Loss) Per Common Share Attributable to LFTD Partners Inc. common shareholders:        Basic $(0.00) $0.00 Diluted $(0.00) $0.00          Weighted average number of common shares outstanding        Basic  14,822,678   14,805,678 Diluted  14,964,678   16,689,876 

Critical Accounting Policies and Estimates

Critical accounting policies and estimates are discussed in NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES of the consolidated financial statements accompanying this Annual Report on Form 10-K. 

Tax Provision

Please refer to NOTE 13 – INCOME TAXES for more information about the Company’s tax provision.

Other Matters

We may be subject to other legal proceedings, claims, and litigation arising in the ordinary course of business in addition to the matters discussed in NOTE 11 – LEGAL PROCEEDINGS. We intend to vigorously pursue and defend such litigation. Although the outcome of these other matters is currently not determinable, our management does not expect that the ultimate costs to resolve these matters will have a material adverse effect on our Company’s financial position, results of operations, or cash flows.

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Impact of Pandemics and Inflation

The COVID-19 pandemic resulted in significant economic disruption to global travel and supply chains, and adversely impacted global commercial activity. Considerable uncertainty still surrounds COVID-19, the evolution and future impact of its variants and the emerging bird flu, their potential long-term economic effects, as well as the effectiveness of any responses taken by government authorities and businesses and of various efforts to inoculate the global population. The travel restrictions, limits on hours of operations and/or closures of non-essential businesses, and other efforts to curb the spread