LFTD Partners Inc. Prepays its Remaining Secured Debt of $916,668 Using Free Cash Flow From Operations
LFTD Partners Inc. (OTCQB: LIFD) has announced the prepayment of $916,668 in remaining secured debt, fully utilizing cash flow from its subsidiary, Lifted Made. This milestone event follows previous payments totaling $2,833,332 over the past eight months, eliminating all secured debt. President and CFO, William C. Jacobs, emphasized this achievement's significance for the company in the cannabis sector. With debts cleared, LFTD Partners plans to explore a potential acquisition and consider stock buybacks as approved by the board.
- Full repayment of $916,668 in secured debt, leaving no remaining secured debt.
- Total debt payments of $2,833,332 made over the past eight months.
- Focus on potential acquisitions and stock buybacks after securing financial position.
- None.
JACKSONVILLE, FL / ACCESSWIRE / July 26, 2022 / LFTD Partners Inc. (OTCQB:LIFD) (www.LFTDPartners.com) today announced that it has prepaid the remaining
William C. "Jake" Jacobs, LFTD Partners Inc.'s President and CFO, said, "This prepayment of
Gerard M. Jacobs, LFTD Partners Inc.'s Chairman and CEO, said, "With LFTD Partners' secured debt completely paid off, we will now fully focus our attention on a significant potential acquisition that currently is under discussion, and on potential stock buybacks as may be approved by our board of directors from time to time."
About LFTD Partners Inc.
Publicly traded LFTD Partners Inc., Jacksonville, FL (OTCQB ticker symbol 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
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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