Company: LIFD
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000346
Chunk: 269

Company: LFTD PARTNERS INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 269
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 impacting our financial condition. Labor unions may also limit our flexibility in dealing with our workforce. Work stoppages and instability in our union relationships could delay the production and sale of our products, which could strain relationships with customers and cause a loss of revenues which would adversely affect our operations. The foregoing risks may have a material adverse effect on our Company and the trading price of our common stock.

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We may be required to disclose personal information of our investors, officers, directors and employees to regulators and failure to do so could endanger our ability to expand, endanger our licenses, or cause the Company to incur costs to redeem securities held by uncooperative shareholders

Ownership in and applications for cannabis licenses can entail lengthy disclosures of personal information to the relevant regulatory authorities. The obligation often extends to all persons holding an ownership interest in the license, whether direct, indirect, present, or future, and often includes those with a mere nominal interest. Analogous disclosures are often required from persons with managerial authority or control over the licenses, as well, including officers, directors, and managers. Disclosures can include providing personal information needed to satisfy extensive criminal history reports and investigations (e.g., fingerprints, address and employment history), tax returns, social security numbers, a history of personal addresses, employment agreements, and other personal information. While some states allow exceptions for individuals with ownership in publicly traded companies like the Company, not all states provide such exceptions. If these requirements were applied to all persons with ownership in the Company, all such persons would be required to comply or the Company would risk losing the opportunity to apply for or renew the license(s), or similarly face the possibility that the license may be revoked. The foregoing risks may have a material adverse effect on our Company and the trading price of our common stock.

There may be monthly, quarterly or annual charitable donation requirements tied to our receipt or maintaining of cannabis licenses; these charitable donation requirements may be costly, time-consuming and challenging (or impossible) to properly manage, value, or accrue for in our financial statements

In order to obtain or maintain a cannabis license that is issued to us, we may be required by a licensing body to make monthly, quarterly or annual charitable donations to individuals or entities. These charitable donations may be in the form of cash, goods, or services, and may be costly, both in terms of money and time. It may be challenging (or impossible) to properly manage, value, or accrue for our charitable obligations in our financial statements, or to properly disclose the status