LFTD Partners Inc. Prepays $916,666 of Note Principal Using Free Cash Flow From Operations, Leaving Only $1,833,334 of Secured Debt

Rhea-AI Summary

LFTD Partners Inc. (OTCQB:LIFD) has announced a prepayment of $916,666 on its $2,750,000 note payable, leaving a balance of $1,833,334. This payment was made using free cash flow generated by its subsidiary, Lifted Made. The company's President, Jake Jacobs, highlighted the team's performance in increasing cash flow while growing inventory. The CEO, Gerard Jacobs, noted the challenges in the cannabis sector but remains optimistic about the company's growth strategy based on profitable consumer products.

Positive

• Prepaid $916,666 of the principal on a $2,750,000 note, reducing debt to $1,833,334.
• Utilized free cash flow from Lifted Made's operations, indicating strong financial performance.
• No new debt or equity securities were issued for the prepayment.

Negative

• None.

JACKSONVILLE, FL / ACCESSWIRE / June 8, 2022 / LFTD Partners Inc. (OTCQB:LIFD) (www.LFTDPartners.com) today announced that it has prepaid $916,666 of the principal of its $2,750,000 note payable relating to the purchase of its growing and profitable subsidiary Lifted Made, Kenosha, WI, using free cash flow generated by Lifted Made's operations. The prepayment leaves LFTD Partners Inc. with only $1,833,334 of secured debt.

William C. "Jake" Jacobs, LFTD Partners Inc.'s President and CFO, said, "The continued outstanding performance of the talented team at Lifted Made, under the leadership of Nick Warrender, is generating free cash flow that has allowed us to simultaneously grow Lifted Made's inventory and to make this substantial prepayment of $916,666 of the remaining principal of our secured debt incurred in the acquisition of Lifted Made, without incurring any new debt or issuing any new equity securities."

Gerard M. Jacobs, LFTD Partners Inc.'s Chairman and CEO, said, "Access to attractively priced debt and equity capital in the cannabis sector is challenging these days. But fortunately our company is continuing to execute on our carefully conceived game plan of profitable growth in high quality branded consumer products. This has allowed us to keep moving the ball down the field for seven straight quarters using just our own free cash flow."

About LFTD Partners Inc.
Publicly-traded LFTD Partners Inc., Jacksonville, FL (OTCQB:LIFD) is the parent corporation of Lifted Made, Kenosha, WI (www.LiftedMade.com), which manufactures and sells psychedelic products under its Silly Shruum brand, and hemp-derived cannabinoid products under its Urb Finest Flowers brand. LFTD Partners Inc. also owns 4.99% of CBD-infused beverage and products maker Ablis Holding Company (www.AblisBev.com), and of craft distillers Bendistillery Inc. d/b/a Crater Lake Spirits (www.CraterLakeSpirits.com) and Bend Spirits, Inc. (www.Bendistillery.com) all located in Bend, OR. Please read LIFD's filings with the U.S. Securities and Exchange Commission which fully describe our business and the Risk Factors associated therewith. Stay updated with our company news and product launches by subscribing to our newsletters at www.LFTDPartners.com and www.LiftedMade.com.

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes the operations, financing, growth, performance, products, plans and expectations of LFTD Partners Inc. and Lifted Made. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to these companies' actual operations, financing, growth, performance, products, plans or results of these companies differing materially from those expressed or implied by the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain other factors, including the risk factors set forth in LFTD Partners Inc.'s filings with the Securities and Exchange Commission. This press release does not constitute an offer to sell common stock or any other securities of LFTD Partners Inc.

CONTACTS:

Lifted Made
Attn: Nicholas S. Warrender, CEO
Phone: (224) 577-8148
Email: CEO@LiftedMade.com
Website: www.LiftedMade.com

LFTD Partners Inc.
Attn: William C. "Jake" Jacobs, President and CFO
Phone: (847) 400-7660
Email: JakeJacobs@LFTDPartners.com
Website: www.LFTDPartners.com

SOURCE: LFTD Partners Inc.

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https://www.accesswire.com/704278/LFTD-Partners-Inc-Prepays-916666-of-Note-Principal-Using-Free-Cash-Flow-From-Operations-Leaving-Only-1833334-of-Secured-Debt

FAQ

What was announced by LFTD Partners Inc. on June 8, 2022?

LFTD Partners Inc. announced a prepayment of $916,666 on its $2,750,000 note payable, decreasing its secured debt.

How much debt does LFTD Partners Inc. have remaining after the prepayment?

After the prepayment, LFTD Partners Inc. has $1,833,334 of secured debt remaining.

What is the significance of Lifted Made's operations to LFTD Partners Inc.?

Lifted Made's operations generated the free cash flow used for the debt prepayment, showcasing its profitability.

Is LFTD Partners Inc. planning to issue new debt or equity securities?

No, LFTD Partners Inc. did not incur any new debt or issue new equity securities for the prepayment.