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LFTD Partners Inc. (LIFD) is a publicly-traded company based in Jacksonville, FL, and the parent corporation of Lifted Made, a leading manufacturer of hemp and psychoactive products. Lifted Made's flagship brand, Urb Finest Flowers, has established itself as an industry leader with consistent customer loyalty. The company's achievements include collaborations with trending brands and investments in infrastructure to expand capacity. LFTD Partners operates profitably in the hemp-derived products industry and is strategically positioned to capitalize on new opportunities. With a strong focus on growth and innovation, LFTD Partners aims to maintain its leadership position and drive industry advancements.
LFTD Partners Inc. (OTCQB:LIFD) has announced plans to enter the marijuana industry in Illinois through four separate transactions. The company intends to acquire Illinois Cannabis Licenses (craft grow, infuser, and transport), a long-term lease for an 18,558 sq. ft. manufacturing space in Skokie, two industrial buildings in Rockford totaling 47,328 sq. ft., and several retail businesses including Mrs. Buckbee's Wake N Bakery and portions of District Bar & Grill and Half Baked Bar.
If completed, these all-stock acquisitions will require 7,635,925 shares of unregistered LIFD common stock. The company aims to close the first three transactions by March 15, 2025, with the retail business acquisitions to follow after audit completion. Upon closing, John Murray will join LIFD's Board and serve as Chief Business Officer and Chief Strategy Officer, while Erik Carlson will become General Counsel and Chief Compliance Officer.
Management believes these acquisitions will diversify LIFD's business and create synergies with its existing Urb brand of hemp products. The transactions face various conditions including regulatory approvals, audits, and definitive documentation.
Urb NM, collaborating with Lifted Made (OTCQB:LIFD), has been named the 'Fastest Growing' marijuana brand in New Mexico according to LeafLink List 2024. The collaboration, which began in June 2023, brings Urb's formulations, branding, and packaging expertise to New Mexico's marijuana market. Key products include the recently launched Aerovape 505 (1.5g disposable in 10 strains), 2g cartridges, and 2.7g disposables.
Lifted Made's CEO Nicholas S. Warrender indicated plans to expand similar collaborations in other states or potentially enter the marijuana industry directly. The success demonstrates how their hemp-derived cannabinoid industry expertise has successfully translated into the marijuana market.
LFTD Partners Inc. (OTCQB:LIFD) announced the passing of director Robert T. Warrender II, father of Nicholas S. Warrender, the company's Vice Chairman and COO. Chairman and CEO Gerard M. Jacobs praised Bob Warrender's character and impact as a businessman, mentor, and family man, highlighting his principles of hard work, integrity, and loyalty that he passed on to his sons.
LFTD Partners reported Q3 2024 financial results showing significant declines across key metrics. Revenue decreased 34% to $8.69M from $13.11M in Q3 2023. The company recorded an operating loss of $140,703, compared to income of $659,539 in the prior year period. Net loss was $194,399 versus net income of $617,648 year-over-year. Cash position declined 22% to $4.17M, while inventory decreased 4% to $9.75M. Current assets fell 19% to $17.45M, though the current ratio improved to 2.64 from 2.49.
LFTD Partners Inc. (OTCQB:LIFD), parent company of hemp, wellness and energy products maker Lifted Made, has scheduled its Q3 2024 earnings conference call for November 15, 2024, at 8:30 AM ET. The company will file its financial results with the SEC on November 14, 2024. The earnings call will be accessible via phone (toll-free: 877-545-0320; international: 973-528-0002) and webcast. Participants can submit questions before the call via email or during the live session.
LFTD Partners Inc. (OTCQB:LIFD), the parent company of hemp, wellness, and energy products maker Urb, has announced that Zuanic & Associates, a prominent cannabis equity research firm, has initiated coverage of LFTD Partners with an Overweight rating. This development marks a significant milestone for LFTD Partners, as it gains recognition from a respected industry analyst.
The full report by Zuanic & Associates is available for access through a provided link, offering investors and stakeholders detailed insights into the company's performance and potential. This coverage initiation could potentially increase visibility and credibility for LFTD Partners within the investment community, particularly in the cannabis and hemp sectors.
Urb, a subsidiary of LFTD Partners Inc. (OTCQB:LIFD), has launched its new 'Fly High' brand identity and Urb Miles loyalty program at www.Urb.shop. The rebranding showcases a portfolio of 14 premium cannabinoids and 10 terpenes in effect-based blends. New product lines include:
Skybites: 'True-Infused' Terpene gummies with enhanced potency and effects
Aerovape 710 and 420 Max: Vapes with award-winning Delta 8 and various cannabinoids
Flight Fuel cartridges: Featuring premium cannabinoids and live resin
Frequent Flyer Flower: AAA grade THCA Indoor Exotic Flower
The Jointcase: Prerolled joints infused with THCA and CBG
Puff Puff Passport: Unique rolling papers made from flax plant fibers
The Urb Miles loyalty program offers rewards and four membership tiers: Economy, Main Cabin, Premium, and First Class.
LFTD Partners Inc. (OTCQB:LIFD) reported its Q2 2024 financial results, showing a 24% decrease in revenue to $9,487,299 compared to Q2 2023. The company experienced an operating loss of $582,745, contrasting with an operating income of $2,372,674 in the same period last year. Net loss was $523,212, resulting in a basic and diluted loss per share of $0.04. The balance sheet as of June 30, 2024, revealed a 17% decrease in cash to $3,613,788 and a 28% reduction in inventory to $7,348,485. Despite these declines, the company's current ratio improved to 3.10 from 2.49, indicating better short-term liquidity. LFTD Partners will host an earnings conference call and webcast on August 15, 2024, at 8:30 AM ET to discuss these results.
LFTD Partners Inc. (OTCQB:LIFD), parent company of hemp, wellness, and energy products maker Lifted Made, has announced its upcoming second quarter 2024 earnings release and conference call. Key details include:
- Financial results filing with SEC: August 14, 2024
- Earnings conference call and webcast: August 15, 2024, at 8:30 AM ET
- Toll-free participant number: 877-545-0320
- International participant number: 973-528-0002
- Participant Access Code: 332191
- Webcast link: https://www.webcaster4.com/Webcast/Page/2916/51081
Investors can find additional information on LFTD Partners' website. The company encourages attendees to submit questions in advance via email to jakejacobs@lftdpartners.com.
On June 17, 2024, LFTD Partners Inc. (OTCQB: LIFD), the parent company of Lifted Made, issued a letter applauding Florida Governor Ron DeSantis for vetoing Senate Bill 1698. This bill, if passed, would have forced the closure of approximately 5,000 hemp businesses, resulting in the loss of 64,000 jobs and $8.9 billion in taxable business revenue for Florida. LFTD Partners emphasized the importance of Governor DeSantis's decision in protecting the hemp industry and preserving jobs and tax revenue. They criticized the bill as an attempt by large marijuana companies to monopolize the cannabis market in Florida by eliminating competition from the hemp sector.
Lifted Made, which produces hemp-derived consumer goods, stressed that the veto supports healthier alternatives to opioids and alcohol, arguing that reasonable regulations are necessary but wholesale shutdowns are not. The company highlighted the 2018 federal Farm Bill, which legalized hemp products, contrasting it with the illegal status of certain marijuana products under federal law.
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