Welcome to our dedicated page for Lftd Partners news (Ticker: LIFD), a resource for investors and traders seeking the latest updates and insights on Lftd Partners stock.
LFTD Partners Inc. (OTCQB: LIFD) is a publicly traded parent company based in Jacksonville, Florida, best known as the corporate parent of Lifted Made, a manufacturer and seller of Urb hemp-derived and other psychoactive products, Mielos hemp-free wellness gummies, and Rebel hemp-free energy gummies. The news surrounding LFTD Partners often centers on financial performance, product developments, collaborations, and regulatory developments affecting its hemp-derived and cannabis-related activities.
Company news releases regularly cover quarterly financial results, where LFTD Partners reports revenue, operating income or loss, net income or loss, and key balance sheet metrics. These announcements are typically accompanied by details on scheduled earnings conference calls and webcasts, giving investors and observers structured opportunities to hear management discuss the business.
Another major theme in LIFD news is brand and product initiatives at Lifted Made. Examples include the launch of Urb's "Fly High" brand identity and the Urb Miles loyalty program, as well as collaborations such as Urb NM in New Mexico, which has been recognized as a fast-growing marijuana brand. News items also highlight exclusive manufacturing arrangements for Diamond Supply Co. and Cali Sweets hemp-derived products, and manufacturing for a subsidiary of a large, publicly traded U.S. marijuana company.
Regulatory and strategic developments are also prominent. LFTD Partners has issued detailed commentary on federal legislation that could ban intoxicating hemp-derived consumable products, outlining potential impacts on sales, goodwill, investments, and inventory. Additionally, the company has announced letters of intent to acquire Illinois cannabis licenses, industrial properties, and related businesses as part of a planned expansion into the Illinois marijuana market, subject to extensive conditions and approvals.
For readers following LIFD, this news page brings together updates on earnings, legislative and regulatory developments, brand launches, collaborations, and proposed acquisitions that shape LFTD Partners' evolving position in hemp-derived products, wellness gummies, energy gummies, and cannabis-related markets.
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.
LFTD Partners (OTCQB:LIFD), the parent company of Lifted Made, reported its Q1 2024 financial results. Revenue fell 14% to $10.67M from $12.46M in Q1 2023. Operating loss increased to $122K from $105K, while net loss surged to $1.14M from $142K. Basic and diluted loss per share widened to $0.08 from $0.01. On the balance sheet, cash remained steady at $4.38M. Inventory dropped 25% to $7.66M. Current assets and working capital decreased by 15% and 12%, respectively. Notes payable reduced by 3% to $3.73M. The current ratio improved slightly to 2.62. The company will hold a conference call on May 15, 2024, at 8:30 AM ET to discuss these results and provide updates.
LFTD Partners (OTCQB:LIFD), the parent company of Lifted Made, known for its Urb Finest Flowers brand, will release its first quarter 2024 financial results on May 14, 2024. Following the release, an earnings conference call and webcast will take place on May 15, 2024, at 8:30 AM ET to discuss the results. Investors can join the call toll-free at 877-545-0320 or internationally at 973-528-0002 using access code 362392. The webcast link and replay will be available on the Investor Relations section of their website. Questions can be submitted prior to the call by emailing jakejacobs@lftdpartners.com.
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