LFTD Partners (LIFD) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 11, 2022
Cover [Abstract]
Entity Registrant Name	LFTD PARTNERS INC.
Entity Central Index Key	0001391135
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		14,102,578
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-52102
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	87-0479286
Entity Address Address Line 1	14155 Pine Island Drive
Entity Address City Or Town	Jacksonville
Entity Address State Or Province	FL
Entity Address Postal Zip Code	32224
City Area Code	847
Local Phone Number	915-2446
Security 12b Title	Common Stock, $0.001 par value
Trading Symbol	LIFD
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current Assets
Cash and Cash Equivalents	$ 4,350,959	$ 1,602,731
Dividend Receivable from Bendistillery, Inc.	0	2,495
Prepaid Expenses	1,946,318	4,262,237
Accounts Receivable, net of allowance of $128,589 in 2022 and $239,101 in 2021	1,967,391	3,461,499
Inventory	6,344,677	3,809,944
Other Current Assets	7,254	13,790
Total Current Assets	14,616,599	13,152,696
Goodwill	22,292,767	22,292,767
Investment in Ablis	399,200	399,200
Investment in Bendistillery and Bend Spirits	1,497,000	1,497,000
Net Deferred Tax Asset	666,852	331,551
Fixed Assets, less accumulated depreciation of $164,384 in 2022 and $77,967 in 2021	989,688	433,213
Intangible Assets, less accumulated amortization of $4,098 in 2022 and $3,058 in 2021	347	1,386
Security and State Licensing Deposits	25,600	6,900
Finance Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $195,208 in 2022 and $252,876 in 2021	1,285,200	1,227,532
Operating Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $71,554 in 2022 and $6,807 in 2021	525,942	76,412
Total Assets	42,299,196	39,418,657
Current Liabilities
Finance Lease Liability	(26,079)	1,262,260
Operating Lease Liability	115,010	26,047
Deferred Revenue	784,047	2,174,393
Income Tax Payable	509,127	1,242,974
Management Bonuses Payable - Related Party
Management Bonus Payable - Related Party - Payable to William C. Jacobs	0	500,000
Management Bonus Payable - Related Party - Payable to Gerard M. Jacobs	0	441,562
Management Bonuses Payable - Related Party	0	941,562
Company-Wide Management Bonus Pool	0	1,556,055
Accounts Payable and Accrued Expenses	5,168,054	4,671,382
Accounts Payable - Related Party	16,101	4,607
Interest Payable - Related Party
Interest - Payable to William C. Jacobs	0	4,000
Interest - Payable to Gerard M. Jacobs	0	9,269
Interest Payable - Related Party	0	13,269
Preferred Stock Dividends Payable
Series A Convertible Preferred Stock Dividends Payable	5,838	11,926
Series B Convertible Preferred Stock Dividends Payable	1,783	1,796
Preferred Stock Dividends Payable	7,621	13,722
Total Current Liabilities	6,573,881	11,906,270
Non-Current Liabilities
Finance Lease Liability	1,376,439	0
Operating Lease Liability	414,875	50,583
Net Deferred Tax Liability	0	0
Total Non-Current Liabilities	1,791,314	50,583
Total Liabilities	8,365,195	11,956,853
Commitments and Contingencies	0	0
Shareholders' Equity
Preferred Stock Value	45	46
Common Stock, $0.001 par value; 100,000,000 shares authorized; 14,102,578 shares issued and outstanding at September 30, 2022, and 14,027,578 shares issued and outstanding at December 31, 2021	14,103	14,028
Additional Paid-in Capital	38,762,260	38,862,333
Accumulated Deficit	(4,842,407)	(11,414,602)
Total Shareholders' Equity	33,934,000	27,461,804
Total Liabilities and Shareholders' Equity	$ 42,299,196	$ 39,418,657

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Accounts Receivable, Allowance	$ 128,589	$ 239,101
Accumulated Depreciation	164,384	77,967
Accumulated Amortization	4,098	3,058
Right-of-use Asset Amortization	195,208	252,876
Right-of-use Asset Amortization Operating Lease	$ 71,554	$ 6,807
Common Stock, Par Or Stated Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	14,102,578	14,027,578
Common Stock, Shares Outstanding	14,102,578	14,027,578
Preferred Stock, Par Or Stated Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Series A Convertible Preferred Stock
Preferred Stock, Par Or Stated Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	400,000	400,000
Preferred Stock, Shares Issued	4,500	5,750
Preferred Stock, Shares Outstanding	4,500	5,750
Series B Convertible Preferred Stock
Preferred Stock, Par Or Stated Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	40,000	40,000
Preferred Stock, Shares Outstanding	40,000	40,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS
Net Sales	$ 11,237,277	$ 8,820,952	$ 46,102,656	$ 18,869,366
Cost of Goods Sold	10,423,533	4,720,057	29,241,016	9,463,210
Gross Profit	813,744	4,100,895	16,861,640	9,406,156
Operating Expenses:
Payroll, Consulting and Independent Contractor Expenses	1,482,455	803,796	5,148,284	1,902,320
Accrual for Company-Wide Management Bonus Pool	(2,121,532)	400,000	0	1,559,335
Professional Fees	143,180	139,526	463,809	366,452
Bank Charges and Merchant Fees	106,845	104,485	372,351	289,111
Advertising and Marketing	334,215	86,438	550,612	236,598
Bad Debt (Income)/ Expense	(11,898)	61,449	(75,107)	81,621
Depreciation and Amortization	7,793	16,344	17,202	84,342
Other Operating Expenses	377,416	170,820	1,288,486	350,985
Total Operating Expenses	318,474	1,782,858	7,765,637	4,870,764
Income From Operations	495,270	2,318,037	9,096,003	4,535,392
Other Income/(Expenses)
Income/(Loss) From 50% membership interest in SmplyLifted LLC (FR3SH)	0	(44,858)	0	(95,399)
Income from SmplyLifted for WCJ Labor	0	313	0	2,154
Interest Expense	(37,181)	(35,368)	(95,839)	(107,113)
Warehouse Buildout Credits	0	0	0	1,200
Penalties	(4,461)	(2,162)	(6,191)	(2,612)
Gain on Forgiveness of Debt	0	0	5,026	151,147
Settlement Income/Gain on Settlement	0	0	108,570	0
Gain(Loss) on Disposal of Fixed Assets	(8,243)	0	(8,243)	(4,750)
Loss on Deposits	0	0	0	(30,000)
Interest Income	2,127	217	3,139	671
Total Other Income/(Expenses)	(47,758)	(81,859)	6,462	(84,702)
Income Before Provision for Income Taxes	447,513	2,236,178	9,102,465	4,450,690
Provision for Income Taxes	(24,027)	0	(2,514,726)	0
Net Income Attributable to LFTD Partners Inc. common stockholders	$ 423,486	$ 2,236,178	$ 6,587,739	$ 4,450,690
Basic Net Income per Common Share	$ 0.03	$ 0.17	$ 0.47	$ 0.42
Diluted Net Income per Common Share	$ 0.03	$ 0.14	$ 0.41	$ 0.32
Weighted average number of common shares outstanding:
Basic	14,102,578	13,015,717	14,073,366	10,525,461
Diluted	15,884,776	16,257,915	15,855,564	13,767,659

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Deficit	Preferred Stocks
Balance, shares at Dec. 31, 2020		6,485,236	36,000			166,150
Balance, amount at Dec. 31, 2020	$ 21,618,720	$ 6,485	$ (34,200)	$ 38,787,444	$ (17,141,175)	$ 166
Series A Preferred Stock dividend payable	(24,855)				(24,855)
Series B Preferred Stock dividend payable	(3,316)				(3,316)
LIFD's January 8, 2021 purchase of 36,000 shares of common stock at $0.95 per share, for a total of $34,200, from an unrelated shareholder, shares			36,000
LIFD's January 8, 2021 purchase of 36,000 shares of common stock at $0.95 per share, for a total of $34,200, from an unrelated shareholder, amount	(34,200)		$ (34,200)
Conversions of Series A Convertible Preferred Stock to Common Stock, shares		3,290,000				(32,900)
Conversions of Series A Convertible Preferred Stock to Common Stock, amount	0	$ 3,290		(3,257)		$ 33
Conversions of Series B Convertible Preferred Stock to Common Stock, shares		60,000				(60,000)
Conversions of Series B Convertible Preferred Stock to Common Stock, amount	0	$ 60				$ (60)
Net Income	618,359				618,359
Balance, shares at Mar. 31, 2021		9,835,236	72,000			73,250
Balance, amount at Mar. 31, 2021	22,174,708	$ 9,835	$ (68,400)	38,784,187	(16,550,988)	$ 73
Balance, shares at Dec. 31, 2020		6,485,236	36,000			166,150
Balance, amount at Dec. 31, 2020	21,618,720	$ 6,485	$ (34,200)	38,787,444	(17,141,175)	$ 166
Net Income	4,450,690
Balance, shares at Sep. 30, 2021		14,002,576				45,750
Balance, amount at Sep. 30, 2021	26,118,122	$ 14,002	$ 0	38,862,107	(12,758,033)	$ 46
Balance, shares at Mar. 31, 2021		9,835,236	72,000			73,250
Balance, amount at Mar. 31, 2021	22,174,708	$ 9,835	$ (68,400)	38,784,187	(16,550,988)	$ 73
Series A Preferred Stock dividend payable	(33,521)				(33,521)
Series B Preferred Stock dividend payable	(1,496)				(1,496)
Conversions of Series A Convertible Preferred Stock to Common Stock, shares		2,750,000				(27,500)
Conversions of Series A Convertible Preferred Stock to Common Stock, amount	0	$ 2,750		(2,723)		$ (28)
Net Income	1,596,154				1,596,154
Exercise of warrants, shares		143,090
Exercise of warrants, amount	7,021	$ 143		6,878
Balance, shares at Jun. 30, 2021		12,728,326	72,000			45,750
Balance, amount at Jun. 30, 2021	23,742,866	$ 12,728	$ (68,400)	38,788,342	(14,989,850)	$ 46
Series A Preferred Stock dividend payable	(2,829)				(2,829)
Series B Preferred Stock dividend payable	(1,533)				(1,533)
Net Income	2,236,178				2,236,179
Cancellation of Common Stock held in treasury, shares		(72,000)	(72,000)
Cancellation of Common Stock held in treasury, amount	0	$ (72)	$ 68,400	(68,328)
Exercise of warrants and options, shares		1,346,250
Exercise of warrants and options, amount	143,439	$ 1,346		142,093
Balance, shares at Sep. 30, 2021		14,002,576				45,750
Balance, amount at Sep. 30, 2021	26,118,122	$ 14,002	0	38,862,107	(12,758,033)	$ 46
Balance, shares at Dec. 31, 2021		14,027,576				45,750
Balance, amount at Dec. 31, 2021	27,461,804	$ 14,028	0	38,862,333	(11,414,602)	$ 46
Series A Preferred Stock dividend payable	(4,253)				(4,253)
Series B Preferred Stock dividend payable	(1,476)				(1,476)
Net Income	2,944,793				2,944,793
Issuance of Common Stock Upon Exercise of Warrant, shares		50,000
Issuance of Common Stock Upon Exercise of Warrant, amount	50,000	$ 50		49,950
Repurchase and cancellation of Common Stock, shares		(100,000)
Repurchase and cancellation of Common Stock, amount	(150,000)	$ (100)		(149,900)
Balance, shares at Mar. 31, 2022		13,977,576				45,750
Balance, amount at Mar. 31, 2022	30,300,868	$ 13,978	0	38,762,383	(8,475,539)	$ 46
Balance, shares at Dec. 31, 2021		14,027,576				45,750
Balance, amount at Dec. 31, 2021	27,461,804	$ 14,028	0	38,862,333	(11,414,602)	$ 46
Net Income	6,587,739
Balance, shares at Sep. 30, 2022		14,102,576				44,500
Balance, amount at Sep. 30, 2022	33,934,000	$ 14,103	0	38,762,260	(4,842,407)	$ 45
Balance, shares at Mar. 31, 2022		13,977,576				45,750
Balance, amount at Mar. 31, 2022	30,300,868	$ 13,978	0	38,762,383	(8,475,539)	$ 46
Series A Preferred Stock dividend payable	(3,403)				(3,403)
Series B Preferred Stock dividend payable	(1,496)				(1,496)
Conversions of Series A Convertible Preferred Stock to Common Stock, shares		125,000				(1,250)
Conversions of Series A Convertible Preferred Stock to Common Stock, amount	0	$ 125		(124)		$ (1)
Net Income	3,219,460				3,219,460
Balance, shares at Jun. 30, 2022		14,102,576				44,500
Balance, amount at Jun. 30, 2022	33,515,429	$ 14,103	0	38,762,260	(5,260,978)	$ 45
Series A Preferred Stock dividend payable	(3,402)				(3,402)
Series B Preferred Stock dividend payable	(1,512)				(1,512)
Net Income	423,486				423,486
Balance, shares at Sep. 30, 2022		14,102,576				44,500
Balance, amount at Sep. 30, 2022	$ 33,934,000	$ 14,103	$ 0	$ 38,762,260	$ (4,842,407)	$ 45

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash Flows From Operating Activities
Net Income			$ 6,587,739	$ 4,450,690
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities:
Lifted Made's Portion of SmplyLifted's Net Loss			0	95,399
Bad Debt (Income)/Expense	$ (11,898)	$ 61,449	(75,107)	81,621
Depreciation and Amortization			128,176	100,435
Gain on Forgiveness of Debt			(5,026)	(151,147)
Loss (Gain) on Disposal of Fixed Assets			8,243	4,750
Loss on Deposits			0	30,000
Spoiled and Written Off Inventory			3,279,262	234,351
Sales Allowance			841,269	0
Deferred Income Taxes			(335,301)	0
Effect on Cash of Changes in Operating Assets and Liabilities
Accounts Receivable			727,946	(598,935)
Prepaid Expenses			2,315,918	(190,737)
Dividend Receivable from Bendistillery, Inc.			2,495	2,495
Income Tax Receivable and Payable			(733,847)	2,715
Management Bonuses Payable			(941,562)	(50,000)
Company-wide Management Bonus Pool			(1,556,055)	1,559,335
Interest Receivable			0	1,676
Inventory			(5,813,995)	(1,690,562)
Other Current Assets			(12,161)	(9,475)
Trade Accounts Payable and Accrued Expenses			501,698	827,789
Accounts Payable and Interest Payable to Related Parties			(1,774)	65,897
Change in ROU Asset			(28,394)	0
Change in Finance & Operating Lease Liabilities			37,418	4,442
Deferred Revenue			(1,390,346)	(420,381)
Net Cash Provided by Operating Activities			3,536,595	4,350,358
Cash Flows From Investing Activities
Reduction of CBD Lion Note Receivable			0	15,318
Net Purchase of Fixed Assets			(656,381)	(288,332)
Loans to SmplyLifted LLC			0	(93,750)
Net Cash Used in Investing Activities			(656,381)	(366,764)
Cash Flows From Financing Activities
Proceeds from Exercise of Warrants			0	142,024
Issuance of Common Stock			50,000	0
Payments of Dividends to Series A Convertible Preferred Stockholders			(17,147)	(199,188)
Payments of Dividends to Series B Convertible Preferred Stockholders			(4,500)	(10,344)
Financing Cost - Net Proceeds from Borrowing Under Notes Payable to Related Party - Nick Warrender			1,833,334	0
Financing Cost - Repayment of Borrowings Under Notes Payable to Related Party - Nick Warrender			(1,833,334)	0
Purchase of Shares of Common Stock			(150,000)	(34,200)
Repayment of Finance Lease Liability			(10,340)	(16,386)
Net Cash Used In Financing Activities			(131,987)	(118,094)
Net Increase in Cash			2,748,228	3,865,500
Cash and Cash Equivalents at Beginning of Period			1,602,731	439,080	$ 439,080
Cash and Cash Equivalents at End of Period	$ 4,350,959	$ 4,304,580	4,350,959	4,304,580	$ 1,602,731
Supplemental Cash Flow Information
Cash Paid For Interest			61,257	0
Cash Paid for Interest - Related Party			47,851	0
Cash Paid For Income Taxes			3,526,509	0
Non-Cash Activities:
Right-of-Use assets acquired from inception of Finance Leases			0	1,480,408
Right-of-Use assets acquired from inception of Operating Leases			514,278	0
Conversion of Series A and Series B Preferred Stock to Common Stock			125	6,100
Cashless exercise of Warrants			0	136
Cancellation of Common Stock held in Treasury			0	68,400
Reduction in bonus payable to Gerard M. Jacobs by the cost of exercising warrants			$ 0	$ 8,439

DESCRIPTION OF THE BUSINESS OF

DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC	9 Months Ended
	Sep. 30, 2022
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC
Description Of The Business Of Lftd Partners Inc.	NOTE 1 – DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. Description of the Business of LFTD Partners Inc. – On May 18, 2021, the Company changed its name to LFTD Partners Inc. from Acquired Sales Corp. On March 15, 2022, the Company changed its stock trading symbol to LIFD. After acquiring, operating and then selling businesses involved in the defense sector, our business is currently involved in developing, manufacturing and selling a wide variety of branded products containing hemp-derived cannabinoids and non-hemp-derived psychedelic products. We are interested in acquiring rapidly growing, profitable companies that are also involved in manufacturing and selling branded products containing hemp-derived cannabinoids, and in acquiring companies that manufacture and sell branded products containing kratom, kava and non-hemp-derived psychedelic products (a “Canna-Infused Products Company”). Management of the Company is open-minded to the concept of also acquiring operating businesses and/or assets involving products containing marijuana, distilled spirits, beer, wine, and real estate. In addition, management of the Company is open-minded to the concept of acquiring all or a portion of one or more operating businesses and/or assets that are considered to be “essential” businesses which are unlikely to be shut down by the government during pandemics such as COVID-19. We are currently engaged in discussions with potential acquisition targets, both within and outside the hemp-derived cannabinoid industry. On February 24, 2020, we acquired 100% of the ownership interests in one Canna-Infused Products Company called Lifted Liquids, Inc. d/b/a Lifted Made (formerly Warrender Enterprise Inc. d/b/a Lifted Liquids) (www.LiftedMade.com), Kenosha, Wisconsin (“Lifted Made” or “Lifted”). On April 30, 2019, we also closed on the acquisition of 4.99% of the common stock of each of CBD-infused beverages maker Ablis Holding Company (“Ablis”) (www.AblisCBD.com), and of distilled spirits manufacturers Bendistillery Inc. (“Bendistillery”) and Bend Spirits, Inc. (“Bend Spirits”), all located in Bend, Oregon. Prior to February 9, 2022, Lifted Made had a 50% membership interest in SmplyLifted LLC, which sells tobacco-free nicotine pouches under the brand name FR3SH (www.GETFR3SH.com). On February 9, 2022, Lifted Made sold its 50% membership interest in SmplyLifted LLC to Corner Vapory LLC, an affiliate of Nicholas S. Warrender (“NWarrender”), CEO of Lifted, for $1, plus ninety-nine percent (99%) of any and all payments and other consideration received or owed to Corner Vapory LLC in regard to SmplyLifted’s existing inventory of FR3SH brand tobacco-free nicotine pouches. Lifted has the option to re-purchase the 50% membership interest in SmplyLifted LLC from Corner Vapory LLC for $1,000 in cash at any time on or before December 31, 2032. Merger Related Promissory Note On February 24, 2020, we acquired Lifted as a wholly-owned subsidiary for cash and stock paid to Lifted’s then owner NWarrender. The $7,500,000 money component of the purchase consideration was paid to NWarrender in the form of $3,750,000 in cash at closing and a $3,750,000 promissory note that accrued interest at the rate of 2% per annum (“$3.75M Note”). The $3.75M Note was secured by (a) a first lien security interest in all of the assets of the Company and Lifted; and (b) a pledge of: (i) all of the capital stock of Lifted; (ii) all of the common stock of Bendistillery, Bend Spirits and Ablis that is owned by the Company; and (iii) all of the capital stock of any other entity owned by the Company, Lifted or any of their subsidiaries, pursuant to a Collateral Stock Pledge Agreement between NWarrender, as Secured Party, and the Company and Lifted, as Pledgors. On December 30, 2021, the Company repaid all principal and interest due under the $3.75M Note. NWarrender kept $1,000,000 of the repayment of the $3.75M Note, plus accrued interest, and on January 3, 2022, reloaned $2,750,000 to LIFD and Lifted (collectively “Payors”) at the rate of 2.5% (the “$2.75M Note”). The $2.75M Note payable jointly by the Company and Lifted to NWarrender was secured by a perfected first lien security interest (the “Security Interest”) that encumbers all of the assets of the Company and Lifted. The Company was obligated to pay off the principal of the $2.75M Note in five semi-annual payments to NWarrender of $458,333 and a sixth and final semi-annual payment to NWarrender of $458,335, in each case plus accrued interest, starting on June 30, 2022. On June 7, 2022, LFTD Partners prepaid $916,666 of the principal of the $2.75M Note, and $29,384 of related accrued interest through that date, which left $1,833,334 remaining principal on the $2.75M Note. On July 5, 2022, we entered into an agreement (“Acceleration Agreement”) with NWarrender. Under the terms of the Acceleration Agreement, we were obligated to repay the remaining principal balance as follows: $1,374,999 on or before December 31, 2022, and $458,335 on or before December 31, 2024. Then, on July 8, 2022, we prepaid $916,666, along with accrued interest, and then, on July 25, 2022, we prepaid the remaining principal balance of $916,668 and accrued interest in full, and all collateral securing the $2.75M Note was released. Obligation to Purchase Headquarters Building Toward the end of 2020, NWarrender, through his assigned entity 95th Holdings, LLC, purchased a building located at 5511 95th Avenue in Kenosha, Wisconsin (“5511 Building”) that was immediately leased to us to conduct our expanded operations. The 5511 Building includes office, laboratory and warehouse space. As part of the lease agreement with 95th Holdings, LLC, the parties agreed that our wholly owned subsidiary Lifted would eventually purchase the 5511 Building. The purchase price for the 5511 Building was originally subject to variation based on a formula agreed upon by the parties. Pursuant to an agreement with Warrender on December 30, 2021, the parties agreed to set the purchase price for the 5511 Building at $1,375,000. Prior to the Acceleration Agreement, Lifted had an obligation to complete the purchase of the 5511 Building on or before December 31, 2022. Pursuant to the Acceleration Agreement, the deadline to purchase the 5511 Building has been extended by one year to December 31, 2023. In addition, the Acceleration Agreement contains a provision that if we raise $5,000,000 of debt or equity capital, then Lifted or our designee shall purchase the 5511 Building from 95th Holdings, LLC at the agreed upon $1,375,000 purchase price within two days. Sublease For Commuter Employees On July 6, 2022, Lifted entered into a sublease for office space in Chicago, Illinois located at 2701-09 West Fulton PH, Chicago, Illinois 60612. The sublease costs $3,000 per month, plus supplemental lease related charges such as real estate taxes and common expenses of the property that we anticipate will be commercially typical costs. The sublease was retroactively effective as of June 1, 2022 and for a five-month term that ended on October 31, 2022. The purpose of the sublease is to make available office space for the members of Lifted’s sales team who live in Chicago. These salespeople were spending significant time in their cars commuting from Chicago to Kenosha. The sublessor is one of our affiliates, Bill McLaughlin, Lifted’s Chief Strategy Officer. The sublease is structured so that Mr. McLaughlin's lease payment obligations to the landlord are passed on to Lifted on a dollar-for-dollar basis, such that Mr. McLaughlin does not realize a cashflow profit or loss from the sublease. As described in “ NOTE 15 – SUBSEQUENT EVENTS Termination of Letter of Intent relating to the proposed acquisition by the Company of Savage Enterprises, Premier Greens LLC and MKRC Holdings, LLC On December 15, 2021, the Company, our Chairman and CEO Gerard M. Jacobs (“GJacobs”), our President and CFO William C. “Jake” Jacobs (“WJacobs”), and our Vice Chairman and COO NWarrender, Savage Enterprises, a Wyoming corporation (“Savage”), Premier Greens LLC, a California limited liability company (“Premier Greens”), MKRC Holdings, LLC, a Wyoming limited liability company (“MKRC”), Christopher G. Wheeler (“Wheeler”), and Matt Winters (“Winters”), mutually stipulated to terminate the Letter of Intent dated June 15, 2021 that set out the Company’s possible acquisition of Savage, Premier Greens and MKRC. Termination of Letter of Intent relating to the proposed acquisition by the Company of Fresh Farms E-Liquid, LLC On December 16, 2021, the Company, Fresh Farms E-Liquid, LLC, a California limited liability company (“Fresh Farms”), Anthony J. Devincentis (“Devincentis”), Jakob M. Audino (“Audino”), Forrest F. Town (“Town”), John Z. Petti (“Petti”), GJacobs, NWarrender, WJacobs, Wheeler and Winters mutually stipulated to terminate the Letter of Intent dated September 1, 2021 that set out the Company’s possible acquisition of Fresh Farms. Capital Raise Cash on hand is currently limited, so in order to close future acquisitions, and potentially also in order to pay other corporate obligations such as certain bonuses, our company-wide bonus pool, and/or income taxes, it may be necessary for us to raise substantial additional capital, and no guarantee or assurance can be made that such capital can be raised on acceptable terms, if at all. We are currently exploring the possibility of raising $5 million or more through some combination of debt and equity offerings in order to purchase for $1.375 million the building located at 5511 95 th

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Basis Of Presentation And Significant Accounting Policies	NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Consolidated Financial Statements Use of Estimates Cash and Cash Equivalents Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) 820 defines fair value, establishes a framework for measuring fair value under GAAP and enhances disclosures about fair value measurements. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes a fair-value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value as follows: Level 1 – Level 2 – Level 3 – Ablis Holding Company, Bendistillery Inc. and Bend Spirits, Inc. are not publicly traded, and as such their financial instruments are Level 3 unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Accounts Receivable Inventory September 30, 2022 December 31, 2021 Raw Goods $ 3,213,772 $ 2,927,727 Finished Goods $ 3,130,905 $ 882,217 Total Inventory $ 6,344,677 $ 3,809,944 Monthly overhead costs such as payments for rent, utilities, insurance, and indirect labor are allocated to finished goods based on the estimated percentage cost toward the finished goods. Depreciation expense related to certain machinery and equipment is also allocated to finished goods. At September 30, 2022, $112,507 of overhead costs were allocated to finished goods. In comparison, during the quarter ended September 30, 2021, $36,457 of overhead costs were allocated to finished goods. During the nine months ended September 30, 2022, $3,279,262 of obsolete and spoiled inventory was written off; this is compared to $234,351 of obsolete and spoiled inventory written off during the nine months ended September 30, 2021. Of the $3,279,262 of obsolete inventory that was written off during the nine months ended September 30, 2022, $2,479,798 of it was recognized during the quarter ended September 30, 2022. This write-off primarily related to $2,313,902 worth of certain 2 mL disposable vapes written off due to clogging issues (the “Clogged Vapes”). Management believes that the clogging was caused by the summer heat wave (the third hottest summer on record in the USA). The heat caused the oil in the Clogged Vapes to lose viscosity, so more oil solidified in the coils as they were brought to room temperature. Because these Clogged Vapes did not have preheat or variable voltage settings, the oil could not be unclogged from the coils. Management discontinued the sale of the Clogged Vapes during the third quarter. Lifted’s 2 mL disposable vapes have now been superseded by 3 mL disposable vapes that do have preheat and variable voltage settings, so management expects that this write off of Clogged Vapes should be a one-time occurrence. Management is attempting to negotiate an agreement pursuant to which the manufacturer of the Clogged Vapes will subsidize or share, in some fashion, in the losses that have been sustained by Lifted due to the Clogged Vapes; however, there can be no guarantees or assurances whatsoever that such an agreement to subsidize or share in such losses can be successfully negotiated. The process of determining obsolete inventory during the quarter involved: 1) Identifying raw goods that would no longer be used in the manufacture of finished goods; 2) Identifying finished goods that would no longer be sold or that are slow moving; and 3) Valuing and expensing raw and finished goods that would no longer be sold. Fixed Assets Management regularly reviews property and equipment and other long-lived assets for possible impairment. This review occurs annually, or more frequently if events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. If there is indication of impairment, management then prepares an estimate of future cash flows (undiscounted and without interest charges) expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. The fair value is estimated using the present value of the future cash flows discounted at a rate commensurate with management’s estimates of the business risks. Preparation of estimated expected future cash flows is inherently subjective and is based on management’s best estimate of assumptions concerning expected future conditions. Long-lived assets held for sale are recorded at the lower of their carrying amount or fair value less cost to sell. Security Deposits th The Company has paid security deposits for its leased facilities located at 8920 58 th th th The Company had paid a security deposit to its lessor for the Company’s former office, manufacturing and warehouse space in Zion, IL, that was rented on a month-to-month basis from June 1, 2021 through November 2021. The security deposit was written off at December 31, 2021. State Licensing Deposits Revenue The majority of the Company’s sales are of branded products goods to distributors, wholesalers, and end consumers. A minority of the Company’s sales are of raw goods to manufacturers, distributors and wholesalers. The majority of the Company’s sales are to distributors, followed by the Company’s sales to wholesalers, and then the Company’s sales to end consumers. Distributors primarily sell Lifted’s products to vape and smoke shops, stores specializing in cannabinoid-infused products, convenience stores, gas stations, health food stores, and other outlets. Typically, the Company’s revenue is recognized when it satisfies a single performance obligation by transferring control of its products to a customer. Control is generally transferred when the Company’s products are either shipped or delivered based on the terms contained within the underlying contracts or agreements. If the shipping terms on a sale are FOB destination, the revenue is deferred until the product reaches its destination. The Company excludes from revenues all taxes assessed by a governmental authority that are imposed on the sale of its products and collected from customers. Discounts and rebates to customers are recorded as a reduction to gross sales. Management believes that adequate provision has been made for cash discounts, returns and spoilage based on the Company’s historical experience. Described below are some of the reasons why a customer may want to return an ordered item, and how the Company responds in each situation: 1) The ordered item breaks, melts, clogs, leaks or separates in transit to the customer. In this case, the Company will replace the broken, melted or separated item at no cost to the customer. 2) The Company sent the wrong item to the customer. In this case, the Company will allow the customer to keep, at no cost to the customer, the item that was mistakenly sent to the customer. The Company will also send the correct product to the customer, at no cost to the customer. 3) The customer ordered the wrong product. In this case, the customer, at his/her own expense, must mail the mistakenly ordered product back to the Company, and the Company will mail the correct product to the customer. 4) The ordered item is recalled. In a situation where product is recalled, the Company will offer a replacement, credit, or refund. As described above in the section “ Inventory Inventory Disaggregation of Revenue During the quarter ended September 30, 2022, approximately 99% of the Company’s sales occurred inside of the United States of America. During the quarter ended September 30, 2021, approximately 99% of the Company’s sales occurred inside of the United States of America as well. The Company has considered providing disaggregation of revenue by information regularly reviewed by the chief operating decision maker for evaluating the financial performance of operating segments, such as type of good, geographical region, market or type of customer, type of contract, contract duration, timing of transfer of goods, and sales channels. Due to the rapidly evolving nature of our industry, the Company is constantly launching new products to stay ahead of trends, finding new sales channels, initiating new distribution networks and modifying the prices of its products. Shown below is a table showing the approximate disaggregation of historical revenue: Type of Sale For the three months ended September 30, 2022 % of Net Sales For the three months ended September 30, 2021 % of Net Sales For the nine months ended September 30, 2022 % of Net Sales For the nine months ended September 30, 2021 % of Net Sales Net sales of raw materials to customers $ 21,707 0.2 % $ 105,960 1.2 % $ 40,339 0.1 % $ 155,695 0.8 % Net sales of products to private label clients 766,129 6.8 % $ 663,968 7.5 % $ 850,271 1.8 % $ 2,692,091 14.3 % Net sales of products to wholesalers 1,404,590 12.5 % $ 1,255,947 14.2 % $ 5,825,584 12.6 % $ 2,842,714 15.1 % Net sales of products to distributors 8,653,948 77.0 % $ 6,273,836 71.1 % $ 36,393,678 78.9 % $ 12,060,313 63.9 % Net sales of products to end consumers 390,903 3.5 % $ 521,242 5.9 % $ 2,992,784 6.5 % $ 1,118,554 5.9 % Net Sales $ 11,237,277 100.0 % $ 8,820,952 100.0 % $ 46,102,656 100.0 % $ 18,869,366 100.0 % Deferred Revenue Amounts received from a customer before the purchased product is shipped to the customer is treated as deferred revenue. If cash is not received, an accounts receivable is recognized for the invoiced order, but revenue is not recognized until the order is fully shipped. Accounts receivable includes amounts associated with partially shipped orders, for which the unshipped portion is a contract asset. Contract assets represent invoiced but unfulfilled performance obligations. The table shown below represents the composition of deferred revenue between contract assets (invoiced but unfulfilled performance obligations) and deposits from customers from unfulfilled orders as of September 30, 2022 and December 31, 2021. September 30, 2022 December 31, 2021 Contract Assets (invoiced but unfulfilled performance obligations) $ 784,047 $ 1,650,258 Deposits from customers for unfulfilled orders $ - $ 524,135 Total Deferred Revenue $ 784,047 $ 2,174,393 Cost of Goods Sold Operating Expenses Income Taxes Basic and Diluted Earnings (Loss) Per Common Share For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net Income/(Loss) $ 423,486 $ 2,236,178 $ 6,587,739 $ 4,450,690 Weighted average number of common shares outstanding: Basic 14,102,578 13,015,717 14,073,366 10,525,461 Diluted 15,884,776 16,257,915 15,855,564 13,767,659 Basic Net Income (Loss) per Common Share $ 0.03 $ 0.17 $ 0.47 $ 0.42 Diluted Net Income (Loss) per Common Share $ 0.03 $ 0.14 $ 0.41 $ 0.32 As of September 30, 2022, in addition to our outstanding common stock, we have issued (a) options to purchase 1,076,698 shares of common stock at $2.00 per share, (b) warrants to purchase 155,500 shares of common stock at $1.00 per share, (c) rights to purchase warrants to purchase 100,000 shares of common stock at $1.85 per share, and (d) warrants to purchase 2,295,000 shares of common stock at $5.00 per share. Regarding the aforementioned warrants to purchase 2,295,000 shares of our common stock at an exercise price of $5.00 per share: of the total, warrants to purchase 1,550,000 shares of our common stock are vested, while the remaining warrants to purchase 745,000 shares of our common stock are not vested and are subject to certain conditions and requirements. At September 30, 2022, the Company had Series A Preferred Stock outstanding convertible into 450,000 shares of common stock; these are included in the diluted earnings calculation. Also at September 30, 2022, the Company had Series B Preferred Stock outstanding convertible into 40,000 shares of common stock; these are not included in the diluted earnings calculation because the exercise price ($5.00/share) was higher than the stock closing price at September 30, 2022 (3.40/share). In comparison, as of September 30, 2021, in addition to our outstanding common stock, we have issued (a) options to purchase 1,086,698 shares of common stock at $2.00 per share, (b) warrants to purchase 205,500 shares of common stock at $1 per share, (c) rights to purchase warrants to purchase 1,375,000 shares of common stock at between $0.01 and $1.85 per share, and (d) warrants to purchase 2,295,000 shares of common stock at $5.00 per share. Regarding the aforementioned rights to purchase warrants to purchase 1,375,000 shares of common stock at between $0.01 and $1.85 per share as of September 30, 2021: exercise rights to purchase 1.25 million shares of our common stock by exercise of the foregoing warrants are not vested and are not exercisable until a performance contingency is met. Regarding the aforementioned warrants to purchase 2,295,000 shares of our common stock at an exercise price of $5.00 per share as of September 30, 2021: of the total, warrants to purchase 1,650,000 shares of our common stock are vested, while the remaining warrants to purchase 645,000 shares of our common stock are not vested and are subject to certain conditions and requirements. Also outstanding at September 30, 2021, the Company had Series A Preferred Stock outstanding convertible into 575,000 shares of common stock; these are included in the diluted earnings calculation. At September 30, 2021, the Company also had Series B Preferred Stock outstanding convertible into 40,000 shares of common stock; these are not included in the diluted earnings calculation. Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes On August 5, 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) The Company is researching what other pronouncements may be applicable to the Company’s accounting and whether or not any other pronouncements should be adopted. Advertising and Marketing Expenses Compensated Absences Off-Balance Sheet Arrangements Reclassifications

RECEIPT OF LOANS UNDER THE ECON

RECEIPT OF LOANS UNDER THE ECONOMIC INJURY DISASTER LOAN PROGRAM AND THE PAYCHECK PROTECTION PROGRAM	9 Months Ended
	Sep. 30, 2022
RECEIPT OF LOANS UNDER THE ECONOMIC INJURY DISASTER LOAN PROGRAM AND THE PAYCHECK PROTECTION PROGRAM
Receipt Of Loans Under The Economic Injury Disaster Loan Program And The Paycheck Protection Program	NOTE 3 – RECEIPT OF LOANS UNDER THE ECONOMIC INJURY DISASTER LOAN PROGRAM AND THE PAYCHECK PROTECTION PROGRAM Lifted also applied for and received a loan (the “PPP Loan”) under the Paycheck Protection Program (the “PPP”) under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was enacted March 27, 2020. The PPP Loan was issued by BMO Harris Bank (the “Lender”) in the aggregate principal amount of $149,622.50 and evidenced by a promissory note (the “Note”), dated April 14, 2020 issued by Lifted to the Lender. On April 20, 2021, the entire PPP Loan ($149,622) and the interest payable on the PPP Loan ($1,525) was forgiven by the SBA, and a related gain on forgiveness of debt in the amount of $151,147 was recorded. In accordance with its terms, the Note was originally scheduled to mature on April 14, 2022 and bore interest at a rate of 1.00% per annum, payable monthly commencing on November 14, 2020, following an initial deferral period as specified under the PPP. In addition, the Note could be prepaid by Lifted at any time prior to its original maturity with no prepayment penalties. Proceeds from the PPP Loan were available to Lifted to fund designated expenses, including certain payroll costs and other permitted expenses, in accordance with the PPP. Under the terms of the PPP, up to the entire amount of principal and accrued interest of the PPP Loan could be forgiven to the extent that at least 75% of the PPP Loan proceeds are used for qualifying expenses as described in the CARES Act and applicable implementing guidance issued by the SBA under the PPP. As of March 31, 2021, Lifted had an accrual of $1,443 for the interest on the PPP Loan. During the three months ended June 30, 2021, interest of $82 was accrued prior to the forgiveness of the Loan.

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	9 Months Ended
	Sep. 30, 2022
RISKS AND UNCERTAINTIES
Risks And Uncertainties	NOTE 4 - RISKS AND UNCERTAINTIES Going Concern – The Company’s investments in Ablis, Bendistillery and Bend Spirits made the Company a minority owner of these companies. As a minority owner, the Company is not able to recognize any portion of Ablis’, Bendistillery’s or Bend Spirits’ revenues or earnings in the Company’s financial statements. The Company monitors its investments in Ablis, Bendistillery and Bend Spirits, and from time to time and will evaluate whether there has been a potential impairment of value. The COVID-19 pandemic and its ramifications, combined with the expenses and potential liabilities associated with litigation involving Lifted, combined with the regulatory risks and uncertainties associated with the cannabinoid-infused products, vaping and nicotine products industries, combined with the risks associated with internet hacking or sabotage, combined with the risks of employee and/or independent contractor disloyalty or theft of Company information and opportunities, have created significant adverse risks to the Company, which have caused substantial doubt about the Company’s ability to continue as a going concern. Prior to the Acceleration Agreement, Lifted had an obligation to complete the purchase of the 5511 Building on or before December 31, 2022. Pursuant to the Acceleration Agreement, the deadline to purchase the 5511 Building has been extended by one year to December 31, 2023. In addition, the Acceleration Agreement contains a provision that if we raise $5,000,000 of debt or equity capital, then Lifted or our designee shall purchase the Property from 95th Holdings, LLC at the agreed upon $1,375,000 purchase price within two days. The Company is also accruing 3% annual dividends on its Series A and Series B Convertible Preferred Stock. Also, on February 14, 2022, NWarrender, GJacobs and WJacobs (together the “Parties”) and LFTD Partners, entered into an agreement (the “Amended Omnibus Agreement”) that amends in part the Agreement dated as of December 30, 2021 entered into by and among LFTD Partners Inc., the Parties, Lifted Liquids, Inc. d/b/a Lifted Made and 95th Holdings, LLC (the “Omnibus Agreement”). The Amended Omnibus Agreement (1) terminates the right for the Parties to receive bonus compensation in regard to 2021 that is in excess of the Modified 2021 Bonus Pool Amount of $1,556,055 set out in the Omnibus Agreement; (2) places a cap on the 2022 company-wide bonus pool such that the 2022 company-wide bonus pool shall not be allowed to be accrued or paid by LIFD if and to the extent that doing so would decrease LIFD’s 2022 diluted earnings per share of common stock below $0.56 per share; and (3) the $500,000 of additional bonus set out in the Omnibus Agreement, is now allocated and defined as a retention bonus of $166,667 to each of NWarrender, GJacobs and WJacobs to be paid at the end of 2022 so long as each respective executive has not earlier resigned from LFTD Partners (the “2022 Retention Bonuses”). Moreover, LFTD Partners agrees and covenants that the Chairman of the Compensation Committee is authorized to negotiate and agree on behalf of LFTD Partners in regard to a 2023 supplemental retention bonus for NWarrender, GJacobs and WJacobs (in addition to the company-wide Bonus Pool) (the “2023 Retention Bonuses”), and if and only if the amounts of the 2023 Retention Bonuses are mutually agreed upon in writing among the Chairman of the Compensation Committee, NWarrender, GJacobs and WJacobs, then one-third of the 2023 Retention Bonuses shall be paid by LFTD Partners to each of NWarrender, GJacobs and WJacobs on or before March 15, 2024, provided that such officer shall not have earlier resigned as an officer of LFTD Partners. During 2022, Lifted for the first time hired an outside laboratory to conduct research and development on a potential new, non-hemp-derived, synthetic psychedelic product (the “New Psychedelic Product”) for a total of $19,800. Such research and development of the New Psychedelic Product has been put on indefinite hold, as Lifted has recently successfully purchased from third parties a natural equivalent of the New Psychedelic Product. In addition, factors that could materially affect future operating results include, but are not limited to, changes to laws and regulations, especially any future changes to the so-called “Farm Bill” at the federal level, and any other federal or state laws and regulations related to hemp-derived cannabinoids, nicotine products, kratom, psychedelic products and/or vaping. The company is also subject to vendor concentration risk, customer concentration risk, customer credit risk, and counterparty risk. The Company maintains levels of cash bank accounts that, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and it believes that it is not exposed to any significant credit risk on cash. No assurance or guarantee whatsoever can be given that the net income of the Company’s wholly-owned subsidiary Lifted will be sufficient to allow the Company to pay all of its operating expenses, the dividends accruing on the Company’s preferred stock, the company-wide bonus pool, and the 2022 Retention Bonuses and the 2023 Retention Bonuses. As a result, there is substantial doubt that the Company will be able to continue as a going concern. Bankruptcy of the Company at some point in the future is a possibility. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company currently has one revenue-generating subsidiary, Lifted. If and to the extent that the revenue generated by Lifted is not adequate to pay the Company’s operating expenses and the dividends accruing on its preferred stock, then Company management plans to sustain the Company as a going concern by taking the following actions: (1) acquiring and/or developing additional profitable businesses that will create positive income from operations; and/or (2) completing private placements of the Company’s common stock and/or preferred stock. Management believes that by taking these actions, the Company will be provided with sufficient future operations and cash flow to continue as a going concern. However, there can be no assurances or guarantees whatsoever that the Company will be successful in consummating such actions on acceptable terms, if at all. Moreover, any such actions can be expected to result in substantial dilution to the existing shareholders of the Company. Customer Concentration Risk Vendor Dependence The loss of Lifted’s relationships with these customers and vendors could have a material adverse effect on Lifted’s business.

THE COMPANYS INVESTMENTS

THE COMPANYS INVESTMENTS	9 Months Ended
	Sep. 30, 2022
THE COMPANYS INVESTMENTS
The Companys Investments	NOTE 5 – THE COMPANY’S INVESTMENTS The Company’s Investments in Ablis, Bendistillery and Bend Spirits On April 30, 2019, the Company purchased 4.99% of the common stock of each of Ablis Holding Company, Bendistillery Inc., and Bend Spirits, Inc. for an aggregate purchase price of $1,896,200. Under US Generally Accepted Accounting Principles (“GAAP”), the Company uses the cost method to account for our minority equity ownership interests in businesses in which the Company owns less than 20% of equity ownership, and have no substantial influence over the management of the businesses. Under the cost method of accounting, the Company reports the historical costs of the investments as assets on its balance sheet. However, US GAAP does not permit the consolidation of its financial statements with the financial statements of companies in which the Company owns minority equity ownership interests. As such, the Company’s investments in Ablis, Bendistillery and Bend Spirits made the Company a minority owner of these companies. As a minority owner, the Company will not be able to recognize any portion of Ablis’, Bendistillery’s or Bend Spirits’ revenues or earnings in the Company’s financial statements. US GAAP also requires the Company to record these types of investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. As such, the Company will not be allowed to consolidate into its financial statements any portion of the revenues, earnings or assets of companies in which it owns minority equity ownership interests such as Ablis, Bendistillery and Bend Spirits. Moreover, even if there is evidence that the fair market values of the investments have increased above their historical costs, US GAAP does not allow increasing the recorded values of the investments. Under US GAAP, the only adjustments that may be made to the historical costs of the investments are write downs of the values of the investments, which must be made if there is evidence that the fair market values of the investments have declined to below the recorded historical costs. At each reporting period, the Company makes a qualitative assessment considering impairment indicators to evaluate whether its investments are impaired. Factors that the Company would consider indicators of impairment include: (1) a significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee, (2) a significant adverse change in the regulatory, economic, or technological environment of the investee, (3) a significant adverse change in the general market condition of either the geographical area or the industry in which the investee operates, (4) a bona fide offer to purchase, an offer by the investee to sell, or a completed auction process for the same or similar investment for an amount less than the carrying amount of that investment, and (5) factors that raise significant concerns about the investee’s ability to continue as a going concern, such as negative cash flows from operations, working capital deficiencies, or noncompliance with statutory capital requirements or debt covenants. Up to the date of this report on Form 10-Q, none of the above the above factors have been applicable to the Company’s investments. The qualitative assessments at the end of quarters one, two and three are done via conference or video calls with the management teams of Ablis, Bendistillery and Bend Spirits. The qualitative assessment at the end of quarter four relating to these entities also includes review of their respective financial statements that have been reviewed by a third party accounting firm. At that time, the Company performs an annual impairment assessment. The reviewed financial statements of these companies are not audited, and the Company is not active in the management of these companies, and except for these companies’ quarterly meetings with the management of the Company, the Company’s assessment of these companies is inherently limited to infrequent and relatively brief conversations with officers of these companies and to reviews of those reviewed financial statements. On October 19, 2022, a video conference meeting of the board of directors and management of Ablis, Bendistillery and Bend Spirits, and GJacobs and WJacobs was held. During this meeting, the management of Ablis, Bendistillery and Bend Spirits discussed the performance of Ablis, Bendistillery and Bend Spirits during the three months ended September 30, 2022. Based upon the financial and non-financial information that was shared with LFTD Partners during that conference call, the management of LFTD Partners believes that no impairment of the value of Bendistillery, Bend Spirits or Ablis is warranted at this point in time. The information that was shared by the management of Ablis included, among other things: new product launches and expansion into more stores. The information that was shared by the management of Bendistillery and Bend Spirits included, among other things: increased on-premise sales are up from the third quarter of 2021, Bendistillery’s in-house sales team is making up for the loss of revenue from third party distributors who have fired their own sales people as a result of the pandemic, and existing markets and new markets opening up. It is our understanding that the management of Bendistillery periodically receives inquiries regarding from large competitors about potentially investing in or acquiring Bendistillery. The Company’s Investment in Lifted Made Goodwill represents the future economic benefit arising from other assets acquired that could not be individually identified and separately recognized. The goodwill arising from the Company’s acquisitions is attributable to the value of the potential expanded market opportunity with new customers. Goodwill is not amortized but is subject to annual impairment testing unless circumstances dictate more frequent assessments. The Company performs an annual impairment assessment for goodwill during the fourth quarter of each year and more frequently whenever events or changes in circumstances indicate that the fair value of the asset may be less than the carrying amount. Goodwill impairment testing is a two-step process performed at the reporting unit level. Step one compares the fair value of the reporting unit to its carrying amount. The fair value of the reporting unit is determined by considering both the income approach and market approaches. The fair values calculated under the income approach and market approaches are weighted based on circumstances surrounding the reporting unit. Under the income approach, the Company determines fair value based on estimated future cash flows of the reporting unit, which are discounted to the present value using discount factors that consider the timing and risk of cash flows. For the discount rate, the Company relies on the capital asset pricing model approach, which includes an assessment of the risk-free interest rate, the rate of return from publicly traded stocks, the Company’s risk relative to the overall market, the Company’s size and industry and other Company-specific risks. Other significant assumptions used in the income approach include the terminal value, growth rates, future capital expenditures and changes in future working capital requirements. The market approaches use key multiples from guideline businesses that are comparable and are traded on a public market. If the fair value of the reporting unit is greater than its carrying amount, there is no impairment. If the reporting unit’s carrying amount exceeds its fair value, then the second step must be completed to measure the amount of impairment, if any. Step two calculates the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the fair value of the reporting unit as calculated in step one. In this step, the fair value of the reporting unit is allocated to all of the reporting unit’s assets and liabilities in a hypothetical purchase price allocation as if the reporting unit had been acquired on that date. If the carrying amount of goodwill exceeds the implied fair value of goodwill, an impairment loss is recognized in an amount equal to the excess. Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including revenue growth rates, strategic plans, and future market conditions, among others. There can be no assurance that the Company’s estimates and assumptions made for purposes of the goodwill impairment testing will prove to be accurate predictions of the future. Changes in assumptions and estimates could cause the Company to perform an impairment test prior to scheduled annual impairment tests. The Company performed its annual fair value assessment at December 31, 2021 on the goodwill recognized as part of the acquisition of Lifted, and determined that no impairment was necessary. The factors that led the Company to this conclusion include, among other things: continued growth in sales and profitability year-over-year, the launch of first-to-market, ground-breaking new products, the addition of more and more wholesalers and distributors nationwide, increased sales to wholesalers and end consumers, the continued growth of Lifted’s flagship brand Urb Finest Flowers, and continued positive publicity of Lifted. The Company’s Investment in SmplyLifted LLC On September 22, 2020, LFTD Partners Inc. and Lifted Made and privately-held SMPLSTC, Costa Mesa, CA formed an equally-owned new entity called SmplyLifted LLC, which sold tobacco-free nicotine pouches in several flavors and nicotine strengths under the brand name FR3SH (www.GETFR3SH.com). Lifted had a 50% membership interest in SmplyLifted LLC. The other 50% of SmplyLifted is owned by SMPLSTC LLC and its principals, who are located in Costa Mesa, California. Under US GAAP, the Company used the equity method to account for its 50% membership interest in SmplyLifted. Under the equity method of accounting, the Company recorded its share (50%) of SmplyLifted’s earnings (or losses) as income (or losses) on the Consolidated Statements of Operations. The Company recorded its initial investment in SmplyLifted, which was $200,000, as an asset at historical cost. Under the equity method, the investment’s value was periodically adjusted to reflect the changes in value due to Lifted’s share in SmplyLifted’s income or losses. During the year ended December 31, 2020, the Company recognized a loss of $4,429 from its 50% membership interest in SmplyLifted, and wrote down the value of its investment in SmplyLifted to $195,571. During the year ended December 31, 2021, the Company recognized a loss of $195,571 from its 50% membership interest in SmplyLifted. At December 31, 2021, Lifted Made wrote off its receivables from SmplyLifted, and its loans to SmplyLifted, which totaled $388,727. On February 9, 2022, Lifted Made signed an Agreement to sell its 50% membership interest in SmplyLifted LLC to Corner Vapory LLC, an affiliate of NWarrender, CEO of Lifted, for $1, plus ninety-nine percent (99%) of any and all payments and other consideration received or owed to Corner Vapory LLC in regard to SmplyLifted’s existing inventory of FR3SH brand tobacco-free nicotine pouches. Lifted has the option to re-purchase the 50% membership interest in SmplyLifted LLC from Corner Vapory LLC for $1,000 in cash at any time on or before December 31, 2032.

PROPERTY AND EQUIPMENT NET

PROPERTY AND EQUIPMENT NET	9 Months Ended
	Sep. 30, 2022
PROPERTY AND EQUIPMENT NET
Property And Equipment Net	NOTE 6 – PROPERTY AND EQUIPMENT, NET Property and Equipment consist of the following: Asset Class September 30, 2022 December 31, 2021 Machinery & Equipment $ 593,208 $ 258,533 Leasehold Improvements $ 385,220 $ 152,985 Trade Show Booths $ 10,000 $ 23,488 Vehicles $ 75,047 $ 22,309 Computer Equipment $ 7,312 $ 7,312 Furniture & Fixtures $ 83,286 $ 46,553 Sub-total: $ 1,154,073 $ 511,180 Less: accumulated depreciation $ (164,384 ) $ (77,967 ) $ 989,688 $ 433,213 The useful lives of the Company’s fixed assets by asset class are as follows: Asset Class Estimated Useful Life Machinery & Equipment 60 months Leasehold Improvements 60 months Trade Show Booths 36 months Vehicles 60 months Computer Equipment 60 months Furniture & Fixtures 60 months Leasehold Improvements are depreciated over the shorter of the length of the lease or the estimated useful life. Depreciation expense of $18,279 and $49,854 was recognized during the three and nine months ended September 30, 2022. In comparison, depreciation expense of $10,992 and $53,483 was recognized during the three and nine months ended September 30, 2021, respectively.

NOTES RECEIVABLE

NOTES RECEIVABLE	9 Months Ended
	Sep. 30, 2022
NOTES RECEIVABLE
Notes Receivable	NOTE 7 – NOTES RECEIVABLE SmplyLifted LLC At March 31, 2021, the Company had made shortfall loans to SmplyLifted LLC totaling $387,500, used primarily for the purchase of inventory. As of March 31, 2021, imputed interest receivable on the loans totaled $149. At December 31, 2021, the Company had made interest-free loans to SmplyLifted LLC totaling $387,500, used primarily for the purchase of inventory. As of December 31, 2021, imputed interest receivable on the loans totaled $580. As described above, at December 31, 2021, these notes and related interest receivable were written off.

INTANGIBLE ASSETS NET

INTANGIBLE ASSETS NET	9 Months Ended
	Sep. 30, 2022
INTANGIBLE ASSETS NET
Intangible Assets Net	NOTE 8 – INTANGIBLE ASSETS, NET www.LiftedMade.com Website The cost of developing Lifted’s website, www.LiftedMade.com, is being amortized over 32 months, and $347 and $1,040 in amortization related to the website was recognized during the three and nine months ended September 30, 2022. In comparison, $417 and $1,251 in amortization related to the website was recognized during the three and nine months ended September 30, 2021.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2022
RELATED PARTY TRANSACTIONS
Related Party Transactions	NOTE 9 – RELATED PARTY TRANSACTIONS Sublease For Commuter Employees On July 6, 2022, our wholly owned subsidiary Lifted entered into a sublease for office space in Chicago, Illinois located at 2701-09 West Fulton PH, Chicago, Illinois 60612. The sublease costs $3,000 per month, plus supplemental lease related charges such as real estate taxes and common expenses of the property that we anticipate will be commercially typical costs. The sublease was retroactively effective as of June 1, 2022 and for a five-month term that ended on October 31, 2022. The purpose of the sublease is to make available office space for the members of Lifted Made's sales team who live in Chicago. These salespeople were spending significant time in their cars commuting from Chicago to Kenosha. The sublessor is one of our affiliates, Bill McLaughlin, Lifted’s Chief Strategy Officer. The sublease is structured so that Mr. McLaughlin's lease payment obligations to the landlord are passed on to Lifted on a dollar-for-dollar basis, such that Mr. McLaughlin does not realize a cashflow profit or loss from the sublease. As described in “ NOTE 15 – SUBSEQUENT EVENTS Shipping Costs Lifted has shared a shipping account with a company operated by NWarrender’s father, Robert T. Warrender II, who is also an employee of Lifted and a member of the board of directors of LFTD Partners Inc. Lifted did this in an effort to reduce shipping costs, as the shipper gave a price discount based on volume. Lifted reimbursed Robert T. Warrender II’s company for the cost of shipping. During the quarter ended September 30, 2022, Lifted did not reimburse Robert T. Warrender II for any shipping costs. During the nine months ended September 30, 2022, Robert T. Warrender II’s company refunded Lifted a net amount of $7,377. During the quarter ended September 30, 2022, also, Lifted bought a manual fork lift from Robert T. Warrender II’s company for a price that we believe reflected its fair market value. In comparison, during the three and nine months ended September 30, 2021, Lifted reimbursed Robert T. Warrender II $75,838 and $150,266 in shipping costs, respectively. Robert T. Warrender II In January 2022, Lifted hired Robert T. Warrender II, NWarrender’s father, as an employee. Robert T. Warrender II is also a Director of LFTD Partners Inc. During the three and nine months ended September 30, 2022, $16,154 and $39,231 in wages were paid to Robert T. Warrender II. As of September 30, 2022, $4,977 in expense reimbursements were owed to Robert T. Warrender II. Robert T. Warrender III During the three and nine months ended September 30, 2022, $0 and $54,384 in sales commissions were paid to Robert T. Warrender III, who is NWarrender’s brother, and Director Robert T. Warrender II’s son. In comparison, during the three and nine months ended September 30, 2021, $26,196 and $43,678 in sales commissions were paid to Robert T. Warrender III. Vincent J. Mesolella During the quarter ended March 31, 2022, Lead Outside Director Vincent J. Mesolella was paid $40,000 of the Modified 2021 Bonus Pool Amount. During each of the first, second and third quarters of 2022, Mr. Mesolella also received his $4,000 quarterly director fee. There were no quarterly director fees or other compensation paid to Mr. Mesolella during the three and nine months ended September 30, 2021. Joshua A. Bloom During the quarter ended March 31, 2022, Dr. Joshua A. Bloom, Director, was paid $20,000 of the Modified 2021 Bonus Pool Amount. During each of the first, second and third quarters of 2022, Dr. Bloom also received his $4,000 quarterly director fee. Richard E. Morrissy During each of the first, second and third quarters of 2022, Richard E. Morrissy, Director, received his $4,000 quarterly director fee. James S. Jacobs During each of the first, second and third quarters of 2022, Dr. James S. Jacobs, Director, received his $4,000 quarterly director fee. Kevin J. Rocio During each of the first, second and third quarters of 2022, Kevin J. Rocio, Director, received his $4,000 quarterly director fee. Gerard M. Jacobs The Compensation Agreement contemplated an aggregate of $350,000 being paid by the Company to GJacobs and WJacobs upon the closing of the Company’s acquisition of Lifted and an aggregate of $350,000 being paid by the Company to GJacobs and WJacobs upon December 1, 2020, but such payments were not timely made, and pursuant to the Amendment No. 1 such aggregate of $700,000 of compensation was deferred and made due and payable by the Company to GJacobs and WJacobs together with interest accrued at the rate of 2% annually commencing January 1, 2021, upon demand by GJacobs and WJacobs, and through the date of the Omnibus Agreement only $58,439 of such deferred compensation had been paid to GJacobs (the remaining unpaid deferred compensation together with accrued interest is hereby referred to as the “Deferred Compensation”). Pursuant to the Omnibus Agreement, the Deferred Compensation was paid by the Company to GJacobs and WJacobs in January 2022. During the quarter ended March 31, 2022, GJacobs was also paid $143,713 of the Modified 2021 Bonus Pool Amount. On April 29, 2021, the Company paid GJacobs a portion ($50,000) of the bonus payable to GJacobs in regard to the closing of the acquisition of Lifted. On August 30, 2021, GJacobs exercised, for an aggregate purchase price of $1, his right to purchase a warrant to purchase an aggregate of 750,000 shares of unregistered common stock of the Company at an exercise price of $0.01 per share, which warrant he immediately exercised. GJacobs also exercised his right to purchase an aggregate of 31,250 shares of unregistered common stock of the Company at an exercise price of $0.03 per share under separate warrants. GJacobs also demanded immediate payment of $8,438.50 of the bonuses which are currently due and payable by the Company to GJacobs, and GJacobs allocated and applied such $8,438.50 to pay for the aggregate cost of purchasing and exercising the above warrants. As of September 30, 2021, there was total interest of $7,043 payable to GJacobs related to the Deferred Compensation. William C. “Jake” Jacobs As described above, the Compensation Agreement contemplated an aggregate of $350,000 being paid by the Company to GJacobs and WJacobs upon the closing of the Company’s acquisition of Lifted and an aggregate of $350,000 being paid by the Company to GJacobs and WJacobs upon December 1, 2020, but such payments were not timely made, and pursuant to the Amendment No. 1 such aggregate of $700,000 of compensation was deferred and made due and payable by the Company to GJacobs and WJacobs together with interest accrued at the rate of 2% annually commencing January 1, 2021, upon demand by GJacobs and WJacobs, and through the date of the Omnibus Agreement only $58,439 of such deferred compensation had been paid to GJacobs (the remaining unpaid deferred compensation together with accrued interest is hereby referred to as the “Deferred Compensation”). Pursuant to the Omnibus Agreement, the Deferred Compensation was paid by the Company to GJacobs and WJacobs in January 2022. Moreover, pursuant to the Omnibus Agreement and simultaneously with such payment of the Deferred Compensation as set out above, the Company paid WJacobs a bonus of $300,000 in January 2022. During the quarter ended March 31, 2022, WJacobs was also paid $152,341 of the Modified 2021 Bonus Pool Amount. As of September 30, 2021, there was total interest of $2,992 payable to WJacobs related to the Deferred Compensation. Also as of September 30, 2021, there were $233 in travel expense reimbursements owed to WJacobs. $2,681 in income tax previously erroneously paid by WJacobs to the Illinois Department of Revenue during the year ended December 31, 2021, and refunded back to Lifted by the Illinois Department of Revenue in January 2021, was repaid to WJacobs during the quarter ended June 30, 2021. Nicholas S. Warrender On February 24, 2020 we closed on the acquisition of 100% of the ownership of CBD-infused products maker Warrender Enterprise Inc. d/b/a Lifted Made (formerly d/b/a Lifted Liquids) of Zion, Illinois (the “Merger”), for consideration of (1) $3,750,000 in cash, (2) $3,750,000 in the form of a secured promissory note accruing interest of 2% per year (the “$3.75M Note”), (3) 3,900,455 shares of unregistered common stock of the Company (the “Stock Consideration”), (4) 645,000 shares of unregistered common stock of the Company that constitute deferred contingent compensation to be issued and delivered to certain persons specified by NWarrender in a schedule delivered by NWarrender to the Company at the closing of the Merger (the “Deferred Contingent Stock”), and (5) warrants to purchase an aggregate of 1,820,000 shares of unregistered common stock of the Company at an exercise price of $5.00 per share that will be issued and delivered to certain persons specified by NWarrender in a schedule delivered by NWarrender to the Company at the closing of the Merger (the “Warrants”). On December 30, 2021, LIFD repaid all principal and interest due under the $3.75M Note between NWarrender and LIFD dated February 24, 2020 that was a portion of the Merger Consideration paid by LIFD to NWarrender under the Merger Agreement. Pursuant to the terms of that promissory note, the unpaid balance of the note accrued interest at the rate of 2% per annum. On December 30, 2021, NWarrender kept $1,000,000 of the repayment, plus accrued interest, and on January 3, 2022, reloaned $2,750,000 back to LIFD at the rate of 2.5% (the “$2.75M Note”). Prior to July 25, 2022 the $2.75M Note payable jointly by the Company and Lifted to NWarrender was secured by a perfected first lien security interest (the “Security Interest”) that encumbered all of the assets of the Company and Lifted. The Company was obligated to pay off the principal of the $2.75M Note in five semi-annual payments to NWarrender of $458,333 and a sixth and final semi-annual payment to NWarrender of $458,335, in each case plus accrued interest, starting on June 30, 2022. On June 7, 2022, LFTD Partners prepaid $916,666 of the principal of the $2.75M Note, and $29,384 of related accrued interest through that date, which left $1,833,334 remaining principal on the $2.75M Note. On July 5, 2022, we entered into an agreement (“Acceleration Agreement”) with NWarrender. Under the terms of the Acceleration Agreement, we were obligated to repay the remaining principal balance as follows: $1,374,999 on or before December 31, 2022, and $458,335 on or before December 31, 2024. Then, on July 8, 2022, we prepaid $916,666, along with accrued interest, and then, on July 25, 2022, we prepaid the remaining principal balance of $916,668 and accrued interest in full, and all collateral securing the $2.75M Note was released. Bonus During the quarter ended March 31, 2022, NWarrender was also paid $680,000 of the Modified 2021 Bonus Pool Amount. Obligation to Purchase Headquarters Building Toward the end of 2020, NWarrender, through his assigned entity 95th Holdings, LLC, purchased a building located at 5511 95th Avenue in Kenosha, Wisconsin (“5511 Building”) that was immediately leased to us to conduct our expanded operations. The 5511 Building includes office, laboratory and warehouse space. As part of the lease agreement with 95th Holdings, LLC, the parties agreed that our wholly owned subsidiary Lifted would eventually purchase the 5511 Building. The purchase price for the 5511 Building was originally subject to variation based on a formula agreed upon by the parties. Pursuant to an agreement with Warrender on December 30, 2021, the parties agreed to set the purchase price for the 5511 Building at $1,375,000. Prior to the Acceleration Agreement, Lifted had an obligation to complete the purchase of the 5511 Building on or before December 31, 2022. Pursuant to the Acceleration Agreement, the deadline to purchase the 5511 Building has been extended by one year to December 31, 2023. In addition, the Acceleration Agreement contains a provision that if we raise $5,000,000 of debt or equity capital, then Lifted or our designee shall purchase the 5511 Building from 95th Holdings, LLC at the agreed upon $1,375,000 purchase price within two days. SmplyLifted LLC On a quarterly basis, SmplyLifted LLC reimbursed Lifted for WJacobs’ time as the Chief Financial Officer at WJacobs’ hourly rate. As of September 30, 2021, SmplyLifted LLC owed $313 to Lifted as reimbursement for WJacobs’ time as the Chief Financial Officer. On February 2, 2021, Lifted owed SmplyLifted $450; on February 10, 2021, Lifted paid SmplyLifted the $450. As of March 31, 2021, Lifted owed SmplyLifted $9,719. Between April 1, 2021 and April 5, 2021, Lifted paid SmplyLifted the $9,719. During the quarter ended September 30, 2022, SMPLSTC, one of Lifted’s partners in SmplyLifted, wrote a check to Lifted for $19,992 on behalf of SmplyLifted LLC, to cover two third-party accounting-related invoices of SmplyLifted. SMPLSTC’s check was short of the total of the two invoices by $146. Lifted paid the remaining $146 that SmplyLifted owed one of the third party accounting firms and wrote off the corresponding receivable from SmplyLifted, due to the lack of collectability from SmplyLifted because of SmplyLifted’s insolvency. Corner Vapory LLC NWarrender is a 50% owner in Corner Vapory LLC. Corner Vapory LLC owns a vape shop (called Corner Vapory), and Canna Vita, a CBD shop, both located in Kenosha, Wisconsin. The other owners of Corner Vapory LLC consist of Lifted’s Director of Operations and his wife. During the three and nine months ended September 30, 2022, Corner Vapory LLC purchased $9,306 and $40,410, respectively, worth of products from Lifted, and Lifted wrote off its receivable of $17,260 from Corner Vapory as of September 30, 2022. In comparison, during the three and nine months ended September 30, 2021, Corner Vapory purchased $21,842 and $34,032, respectively, worth of products from Lifted, and Lifted recorded a receivable of $9,070 from Corner Vapory as of September 30, 2021. 95th Holdings, LLC From June 1, 2018 through June 1, 2021, Lifted rented 3,300 square feet of space located in Zion, Illinois, for manufacturing, warehousing and office space. From June 1, 2021 through November 2021, Lifted leased such space on a month-to-month basis. From May 2020 until April 1, 2021, Lifted also temporarily used additional space located adjacent to its rented space in Zion, Illinois, and made payments in lieu of rent therefor. Lifted’s rented space in Zion, Illinois, was not adequate in light of various issues including zoning uncertainties, lack of air conditioning, and small size. As such, on December 18, 2020, Lifted as tenant entered into a Lease Agreement (the “Lease) with 95 th th Lifted constructed improvements including a clean room, and gradually moved into the Kenosha Premises over the course of the first quarter of 2021. Under the terms of the “triple-net” Lease, starting on January 1, 2021, Lifted leased approximately 11,238 square feet at the Premises at $6.13 per square foot per year in base rent ($68,888.94 in 2021), which is subject to a 2% increase in base rent each year, plus certain operating expenses and taxes. The Lease will continue until midnight on the fifth Under the terms of the lease, the tenant, Lifted, has the option to purchase the property at any time prior to December 31, 2025, and in any event, Lifted is obligated to purchase the property on or before that date. Pursuant to the Lease, in all cases Lifted’s purchase price for the Premises shall be in an amount equal to the greater of: (1) the fair market value of the Premises at the time Lifted purchases the Premises; or (2) any remaining principal balance of any purchase-money mortgage for the Premises existing at the time of the closing of Lifted’s purchase, plus the corresponding amount identified in the Additional Purchase Price Schedule attached as Exhibit B to the Lease, which is an additional amount ranging between $300,000 and $375,000 based on the number of years that have passed between the commencement of the Lease and the purchase of the Premises by Lifted. Landlord is an entity owned by NWarrender, the Company’s Vice Chairman and COO, the CEO of Lifted, and the largest stockholder of the Company as beneficial owner of 3,900,455 common stock shares. Due to the potential conflict of interest, the terms and conditions of the Lease were negotiated on behalf of Lifted by Vincent J. Mesolella, the Lead Outside Director of the Company. Landlord and Lifted were represented by their own independent legal counsel in connection with the Lease. Under the terms of the Lease, NWarrender is able to benefit through his entity 95 th During the quarter ended September 30, 2022, Lifted paid $17,567 in rent to 95 th Under the terms of the Omnibus Agreement, Lifted is obligated to purchase the Premises from Landlord on or before December 31, 2022 for a fixed purchase price of $1,375,000. Pursuant to the terms of the Acceleration Agreement, the purchase date has been delayed until on or before December 31, 2023. Liquid Event Marketing Liquid Event Marketing is a company owned by Lifted’s Director of Operations, who was hired by Lifted on March 29, 2021. During the quarter and nine months ended September 30, 2022, Lifted purchased $0 and $6,470 of services from Liquid Event Marketing, and $2,262 was payable to Liquid Event Marketing as of September 30, 2022. There were also $8,862 in expense reimbursements owed to Lifted’s Director of Operations as of September 30, 2022. In comparison, during the quarter ended September 30, 2021, Lifted paid $26,465 to Liquid Event Marketing for labor and consulting, and Lifted recognized a payable to Liquid Event Marketing for $19,965 at September 30, 2021. During the quarter ended June 30, 2021, Lifted paid Liquid Event Marketing $54,829 for the purchase of fixed assets, the installation of fixed assets, and other services.

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	9 Months Ended
	Sep. 30, 2022
SHAREHOLDERS EQUITY
Shareholders Equity	NOTE 10 – SHAREHOLDERS’ EQUITY Issuance of Series A Convertible Preferred Stock The Company has authorized 400,000 shares of its Series A Convertible Preferred Stock. Each share of Series A Convertible Preferred Stock may be converted into 100 shares of common stock. The Series A Convertible Preferred Stock accrues dividends at the rate of 3% annually. The accrued Series A Convertible Preferred Stock dividends are cumulative. The Series A Convertible Preferred Stock dividends shall cease to accrue at such time as the Company’s Common Stock has closed at $3.00 per share or higher for 20 consecutive trading days after the first date that the Series A Registration Statement is effective, and there have been, on average, at least 25,000 shares traded on each of those 20 consecutive trading days. The Series A Convertible Preferred Stock have no voting rights. The holders of the Series A Convertible Preferred Stock shall have voluntary conversion rights. Shares of Series A Convertible Preferred Stock are subject to mandatory conversion (in the discretion of the Company) at such time as the Company’s common stock has closed at $5.00 per share or higher for 20 consecutive trading days after the first date that the Series A Registration Statement is effective, and there have been, on average, at least 50,000 shares traded on each of those 20 consecutive trading days. Between February 27, 2019 and May 13, 2019, the Company accepted subscriptions from accredited investors to purchase 66,150 shares of newly issued Series A Preferred Stock for an aggregate purchase price of $6,615,000 in cash. These 66,150 shares of Series A Preferred Stock are convertible at the option of the holders into 6,615,000 shares of newly issued common stock of the Company, or $1.00 per share of common stock of the Company. The Series A Preferred Stock will receive an annual 3% dividend, and will be subject to mandatory conversion, under terms and conditions set forth in the Certificate of Designation of the Series A Preferred Stock. On August 2, 2019, the Company filed a Form S-1 Registration Statement covering the shares of newly issued common stock of the Company into which the Series A Convertible Preferred Stock can be converted. On July 6, 2020, the Company filed with the SEC an amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series A Preferred Stock may be converted. On December 10, 2020, the Company filed with the SEC a second amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series A Preferred Stock may be converted. On June 2, 2021, the Company filed with the SEC a third amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series A Preferred Stock may be converted. On July 2, 2021, the Company filed with the SEC a fourth amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series A Preferred Stock may be converted. On July 26, 2021, the Company filed with the SEC a fifth amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series A Preferred Stock may be converted. On August 19, 2021, the Company filed with the SEC a sixth amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series A Preferred Stock may be converted. The Registration Statement was approved deemed effective by the SEC on August 26, 2021. As of September 30, 2022, 61,650 shares of Series A Preferred Stock have been converted into a total of 6,165,000 shares of common stock of the Company, which leaves 4,500 shares of Series A Preferred Stock currently outstanding, convertible into 450,000 shares of common stock of the Company. As of September 30, 2022 and December 31, 2021, the Company has accrued a liability of $5,838 and $11,926, respectively, as dividends payable to holders of the Series A Convertible Preferred Stock. The Company fully intends on paying the annual dividends to the holders of the Series A Convertible Preferred Stock, and as such, the Company has accrued the liability on the Series A Convertible Preferred Stock. During the three and nine months ended September 30, 2022, a total of $0 and $17,147, respectively, of cash dividends were paid to the Series A Convertible Preferred Stock holders. In comparison, during the three and nine months ended September 30, 2021, a total of $0 and $199,187, respectively, of cash dividends were paid to the Series A Convertible Preferred Stock holders. All of the issuances of securities described above were restricted share issuances and deemed to be exempt from registration in reliance on Rule 506 of Regulation D and/or Section 4(2) of the Securities Act as transactions by an issuer not involving a public offering. Each investor represented that they were accredited investors, as defined in Rule 501 of Regulation D and, there was no general solicitation or general advertising used to market the securities. We made available to each investor disclosure of all aspects of our business, including providing the investor with press releases, access to our auditors, and other financial, business, and corporate information. All securities issued were restricted with an appropriate restrictive legend on certificates for notes and warrants issued stating that the securities (and underlying shares) have not been registered under the Securities Act and cannot be sold or otherwise transferred without an effective registration or an exemption therefrom. Issuance of Series B Convertible Preferred Stock The Company has authorized 5,000,000 shares of its Series B Convertible Preferred Stock. Each share of Series B Convertible Preferred Stock may be converted into one shares of common stock. The Series B Convertible Preferred Stock accrues dividends at the rate of 3% annually. The accrued Series B Convertible Preferred Stock dividends are cumulative. The Series B Convertible Preferred Stock dividends shall cease to accrue at such time as the Company’s Common Stock has closed at $7.00 per share or higher for 20 consecutive trading days after the first date that the Series B Registration Statement is effective, and there have been, on average, at least 25,000 shares traded on each of those 20 consecutive trading days. The Series B Convertible Preferred Stock have no voting rights. The holders of the Series B Convertible Preferred Stock shall have voluntary conversion rights. Shares of Series B Convertible Preferred Stock are subject to mandatory conversion (in the discretion of the Company) at such time as the Company’s common stock has closed at $9.00 per share or higher for 20 consecutive trading days after the first date that the Series B Registration Statement is effective, and there have been, on average, at least 50,000 shares traded on each of those 20 consecutive trading days. Between July 24, 2019 and December 5, 2019, the Company accepted subscriptions from accredited investors to purchase 100,000 shares of newly issued Series B Preferred Stock for an aggregate purchase price of $500,000 in cash. These 100,000 shares of Series B Preferred Stock are convertible at the option of the holder into 100,000 shares of newly issued common stock of the Company. The Series B Preferred Stock will receive an annual 3% dividend, and will be subject to mandatory conversion, under terms and conditions set forth in the Certificate of Designation of the Series B Preferred Stock. On August 2, 2019, the Company filed a Form S-1 Registration Statement covering the shares of newly issued common stock of the Company into which the Series B Convertible Preferred Stock can be converted. On July 6, 2020, the Company filed with the SEC an amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series B Preferred Stock may be converted. On December 10, 2020, the Company filed with the SEC a second amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series B Preferred Stock may be converted. On June 2, 2021, the Company filed with the SEC a third amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series B Preferred Stock may be converted. On July 2, 2021, the Company filed with the SEC a fourth amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series B Preferred Stock may be converted. On July 26, 2021, the Company filed with the SEC a fifth amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series B Preferred Stock may be converted. On August 19, 2021, the Company filed with the SEC a sixth amended Registration Statement on Form S-1/A covering 30% of the common stock shares into which the Series B Preferred Stock may be converted. The Registration Statement was approved deemed effective by the SEC on August 26, 2021. As of September 30, 2022, 60,000 shares of Series B Preferred Stock have been converted into a total of 60,000 shares of common stock of the Company, which leaves 40,000 shares of Series B Preferred Stock currently outstanding, convertible into 40,000 shares of common stock of the Company. As of September 30, 2022 and December 31, 2021, the Company has accrued a liability of $1,783 and $1,796, respectively as dividends payable to holders of the Series B Convertible Preferred Stock. The Company fully intends on paying the annual dividends to the holders of the Series B Convertible Preferred Stock, and as such, the Company has accrued the liability on the Series B Convertible Preferred Stock. During the three and nine months ended September 30, 2022, a total of $4,500 and $4,500, respectively, of cash dividends were paid to the Series B Convertible Preferred Stock holders. In comparison, during the three and nine months ended September 30, 2021, a total of $4,500 and $10,344, respectively, of cash dividends were paid to the Series B Convertible Preferred Stock holders. All of the issuances of securities described above were restricted share issuances and deemed to be exempt from registration in reliance on Rule 506 of Regulation D and/or Section 4(2) of the Securities Act as transactions by an issuer not involving a public offering. Each investor represented that they were accredited investors, as defined in Rule 501 of Regulation D and, there was no general solicitation or general advertising used to market the securities. We made available to each investor disclosure of all aspects of our business, including providing the investor with press releases, access to our auditors, and other financial, business, and corporate information. All securities issued were restricted with an appropriate restrictive legend on certificates for notes and warrants issued stating that the securities (and underlying shares) have not been registered under the Securities Act and cannot be sold or otherwise transferred without an effective registration or an exemption therefrom. Share-Based Compensation No share-based compensation expense was recognized during the three or nine months ended September 30, 2022 or September 30, 2021. The following is a summary of share-based compensation, stock option and warrant activity as of September 30, 2022 and changes during the quarter then ended: Weighted-Average Aggregate Weighted-Average Remaining Contractual Intrinsic Shares Exercise Price Term (Years) Value Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, July 1, 2022 2,882,198 $ 3.55 2.55 $ 2,834,897 Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, September 30, 2022 2,882,198 $ 3.55 2.30 $ 2,035,579 Outstanding Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants, September 30, 2022 3,627,198 $ 3.85 2.32 $ 2,035,579 Stock Buy-back Transactions with a Non-Affiliate Stockholder and Retirement of 72,000 Shares of Common Stock Held in Treasury On November 24, 2020, LFTD Partners purchased 36,000 shares of common stock of the Company from a non-affiliate stockholder in a private transaction for $0.95 per share for a total of $34,200. These shares were held in treasury until August 31, 2021, which is when the Company retired them. The retirement of these shares was accounted for under the cost method of accounting. On January 8, 2021, LFTD Partners Inc. purchased 36,000 shares of common stock of the Company from a non-affiliate stockholder in a private transaction for $0.95 per share for a total of $34,200. These shares were held in treasury until August 31, 2021, which is when the Company retired them. The retirement of these shares was accounted for under the cost method of accounting. Exercise of Warrant by a Non-Affiliated Entity On February 19, 2022, an entity non-affiliated with the Company exercised an option to purchase 50,000 shares of unregistered common stock of the Company at an exercise price of $1.00 per share, which the entity paid. Stock Buy-back Transactions with a Non-Affiliate Stockholder Stock and Retirement of 100,000 Shares of Common Stock On March 1, 2022, LFTD Partners signed an agreement to purchase a total of 100,000 shares of common stock of the Company from a non-affiliate stockholder in a private transaction for $1.50 per share for a total purchase price of $150,000. On March 8, 2022, all 100,000 shares were transferred to the Company and immediately cancelled. Conversion of Series A Preferred Stock by a Non-Affiliated Shareholder On April 1, 2022, a non-affiliated shareholder of the Company converted his 1,000 shares of Series A Preferred Stock into 100,000 shares of unregistered common stock of the Company. Conversion of Series A Preferred Stock by a Non-Affiliated Shareholder On April 14, 2022, a non-affiliated shareholder of the Company converted 250 shares of his Series A Preferred Stock into 25,000 shares of unregistered common stock of the Company.

CONTINGENT CONTRACTUAL OBLIGATI

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS	9 Months Ended
	Sep. 30, 2022
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
Contingent Contractual Obligations And Commercial Commitments	NOTE 11 – CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Operating and Finance Lease Right-of-Use Assets Lifted does not own any physical properties. Lease of Building Located at 5511 95th Ave, Kenosha, Wisconsin On December 18, 2020, Lifted as tenant entered into a Lease Agreement (the “Lease) with 95th Holdings, LLC (“Landlord”) for office, laboratory and warehouse space in a building located at 5511 95 th Landlord is an entity owned directly or indirectly by NWarrender, the Company’s Vice Chairman and COO, the CEO of Lifted, and the largest stockholder of the Company as the beneficial owner of 3,900,455 shares of common stock of the Company. Due to the potential conflict of interest, the terms and conditions of the Lease were negotiated on behalf of Lifted by Vincent J. Mesolella, the Lead Outside Director of the Company. Landlord and Lifted were represented by their own independent legal counsel in connection with the Lease. Under the terms of the Lease, NWarrender is able to benefit through his ownership of Landlord by Landlord’s receiving rent and eventually selling the Premises to Lifted. Lifted constructed improvements to the Premises including a clean room, and gradually moved into the Premises over the course of the first quarter of 2021. Under the terms of the “triple-net” Lease, starting on January 1, 2021, Lifted leased approximately 11,238 square feet at the Premises at $6.13 per square foot per year in base rent ($68,888.94 in 2021), which is subject to a 2% increase in base rent each year, plus certain operating expenses and taxes. The Lease will continue until midnight on the fifth Under the terms of the Omnibus Agreement, Lifted was obligated to purchase the Premises from Landlord on or before December 31, 2022 for a fixed purchase price of $1,375,000. As a result, as of December 31, 2021, the Company modified its methodology for accounting of this finance lease (the “Modification Date”), such that the only liability recognized as of December 31, 2021 was a current (within one year) liability, and there was no long-term liability recognized. An immaterial loss on lease modification of $1,446 was also recognized as of the Modification Date. The Finance Lease Right-of-Use Asset value was reduced to reflect the fixed purchase price agreed to under the Omnibus Agreement. Pursuant to the Acceleration Agreement, Lifted’s obligation to purchase the Premises from Landlord was delayed to on or before December 31, 2023. Prior to the signing of the Acceleration Agreement, the Finance Lease Right-of-Use Asset was to be amortized over its useful life (39 years) on a prospective basis from the Modification Date. That is, the Finance Lease Right-of-Use Asset was previously amortized over the lease term, but given mandatory purchase by December 31, 2022, the Finance Lease Right-of-Use Asset will be amortized over 39 years starting on the Modification Date. As a result of the signing of the Acceleration Agreement, the accounting for the Finance Lease Right-of-Use Asset will be adjusted accordingly. Lease of Space Located at 8920 58th Place, Suite 850, Kenosha, Wisconsin On September 23, 2021, Lifted entered into a Lease Agreement (the “58 th th th The term of the 58 th th th Under the terms of the 58 th th Rent Schedule Date Base Monthly Rent 10/01/2021 – 09/30/2022 $ 2,395.84 10/01/2022 – 09/30/2023 $ 2,467.72 10/01/2023 – 09/30/2024 $ 2,541.75 Lease of Space Located at 8910 58th Place, Suites 600 and 700, Kenosha, Wisconsin On November 17, 2021, Lifted entered into a lease agreement with TI for office and warehouse space located at 8910 58th Place, Suites 600 & 700, Kenosha, WI 53144 (the “Second 58 th th The term of the Second 58 th th th th Under the terms of the Second 58 th Rent Schedule Date Base Monthly Rent 01/01/2022 – 12/31/2022 $ 4,000.00 01/01/2023 – 12/31/2023 $ 4,120.00 01/01/2024 – 12/31/2024 $ 4,243.60 01/01/2025 – 12/31/2025 $ 4,370.91 01/01/2026 – 12/31/2026 $ 4,502.34 Lease of Space Located at 9560 58th Place Suite 360, Kenosha, Wisconsin On May 31, 2022, Lifted entered into another lease agreement with TI for office and warehouse space located at 9560 58th Place, Suite 360, Kenosha, WI 53144 (the “Third 58 th th The term of the Third 58 th th th Under the terms of the Third 58 th Rent Schedule Date Base Monthly Rent 07/01/2022 – 06/30/2023 $ 5,493.25 07/01/2023 – 06/30/2024 $ 5,630.58 07/01/2024 – 06/30/2025 $ 5,771.35 07/01/2025 – 06/30/2026 $ 5,915.63 07/01/2026 – 06/30/2027 $ 6,063.52 Sublease of Space Located at 2701-09 West Fulton PH, Chicago, Illinois 60612 On July 6, 2022, Lifted entered into a sublease for office space in Chicago, Illinois located at 2701-09 West Fulton PH, Chicago, Illinois 60612. The sublease costs $3,000 per month, plus supplemental lease related charges such as real estate taxes and common expenses of the property that we anticipate will be commercially typical costs. The sublease was retroactively effective as of June 1, 2022 and for a five-month term that ended on October 31, 2022. The purpose of the sublease is to make available office space for the members of Lifted’s sales team who live in Chicago. These salespeople were spending significant time in their cars commuting from Chicago to Kenosha. The sublessor is one of our affiliates, Bill McLaughlin, Lifted’s Chief Strategy Officer. The sublease is structured so that Mr. McLaughlin's lease payment obligations to the landlord are passed on to Lifted on a dollar-for-dollar basis, such that Mr. McLaughlin does not realize a cashflow profit or loss from the sublease. As described in “ NOTE 15 – SUBSEQUENT EVENTS Lease of Space in Zion, Illinois From June 1, 2018 through June 1, 2021, Lifted rented 3,300 square feet of space located in Zion, Illinois, for manufacturing, warehousing and office space. From June 1, 2021 through November 2021, Lifted leased such space on a month-to-month basis. From May 2020 until April 1, 2021, Lifted also temporarily used additional space located adjacent to its rented space in Zion, Illinois, and made payments in lieu of rent therefor. Third Party Facilities From time to time, the Company maintains inventory at third party manufacturer or copacker facilities around the USA. Balance Sheet Classification of Operating Lease Assets and Liabilities Asset Balance Sheet Line September 30, 2022 Operating Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $71,554 in 2022 Non-Current Assets $ 525,942 Liability Balance Sheet Line September 30, 2022 Operating Lease Liabilities Current Liabilities $ 115,010 Non-Current Liabilities $ 414,875 Balance Sheet Classification of Finance Lease Assets and Liabilities Asset Balance Sheet Line September 30, 2022 Finance Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $195,208 in 2022 Non-Current Assets $ 1,285,200 Liability Balance Sheet Line September 30, 2022 Finance Lease Liabilities Current Liabilities $ (26,079 ) Finance Lease Liabilities Non-Current Liabilities $ 1,376,439 Lease Costs The tables below summarizes the components of lease costs for the three and nine month periods ended September 30, 2022: Lease Cost: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Finance lease expense: Amortization of Right-of-Use Assets $ 10,800 $ 12,337 Interest on lease liabilities 23,924 13,188 Operating lease expense 20,147 - Total $ 54,871 $ 25,525 Lease Cost: Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Finance lease expense: Amortization of Right-of-Use Assets $ 35,473 $ 37,010 Interest on lease liabilities 46,445 39,673 Operating lease expense 60,442 8,000 Total $ 142,360 $ 84,683 As described in Note 1, a portion of monthly overhead costs such as lease expense are allocated to finished goods. For example, monthly overhead costs such as payments for rent, utilities, insurance, and indirect labor are allocated to finished goods based on the estimated percentage cost toward the finished goods. Depreciation expense related to certain machinery and equipment is also allocated to finished goods. Maturity Analysis as of September 30, 2022: Finance Operating 2022 $ 35,133 $ 55,070 2023 1,445,970 146,018 2024 - 142,211 2025 - 122,573 2026 - 125,903 Thereafter - 36,381 Total 1,481,103 628,156 Less: Present value discount (138,730 ) (98,271 ) Lease liability $ 1,342,373 $ 529,885 Potential Issuance of Warrants to Purchase Shares of Common Stock of the Company The Compensation Committee of the Company’s Board of Directors may, from time to time, recommend that certain warrants to purchase shares of common stock of the Company should be issued to new or current members of the Company’s Board of Directors, to officers and employees of the Company and its subsidiaries, or to members of any advisory board or consultants to the Company. Bonus to Lifted’s Chief Strategy Officer Lifted’s Chief Strategy Officer hired on July 1, 2021 has developed and implemented certain important strategies which have assisted Lifted’s efforts to increase its production, fulfillment and sales capabilities. This employee’s two-year agreement with Lifted entitles such Chief Strategy Officer to be paid an annual salary of $180,000 plus a bonus equal to 5% of total net sales for Lifted in excess of $6,000,000 per quarter. At September 30, 2022, the bonus payable to the Chief Strategy Officer totaled $261,864. This bonus is accrued for in the Accounts Payable and Accrued Expenses liability account on the Consolidated Balance Sheets. Company-Wide Management Bonus Pool Please refer to “ NOTE 13 – COMPANY-WIDE MANAGEMENT BONUS POOL”

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	9 Months Ended
	Sep. 30, 2022
LEGAL PROCEEDINGS
Legal Proceedings	NOTE 12 – LEGAL PROCEEDINGS The Company The Company Lifted currently is involved in three pending lawsuits, as the plaintiff: (1) Lifted Liquids, Inc. v. Girish GPO, Inc., Girish Ray, and the Law Offices of Saul Roffe – (2) Lifted Liquids, Inc. v. Asad Awawdeh and Habib Cash and Carry SD, Inc. – (3) Lifted Liquids, Inc. v. DEV Distribution, LLC Lifted currently is involved in one pending lawsuit, as the defendant: (1) Martha, Edgar v. Lifted Liquids – On February 1, 2022, Lifted entered into a settlement agreement that was mutually acceptable to the parties which has resolved the following lawsuit: (1) Lifted Liquids, Inc. v. Monkey Bones Distribution LLC (United States Circuit Court for Kenosha County of the State of Wisconsin; Civil Case No. 2021 CV 001196). In December 2021, our wholly-owned subsidiary Lifted sued distributor Monkey Bones Distribution, LLC for breach of contract for its failure to pay funds due under the agreement between the parties. In February 2022, the parties settled the litigation and agreed to mutual releases and dismissal of the lawsuit in exchange for $36,100.28 paid by Monkey Bones to Lifted Liquids and 15,000 custom gray scale empty disposable devices delivered to Monkey Bones by Lifted Liquids. The parties performed the settlement agreement and the matter was dismissed on February 3, 2022.

COMPANY WIDE MANAGEMENT BONUS P

COMPANY WIDE MANAGEMENT BONUS POOL	9 Months Ended
	Sep. 30, 2022
COMPANY WIDE MANAGEMENT BONUS POOL
Company Wide Management Bonus Pool	NOTE 13 – COMPANY-WIDE MANAGEMENT BONUS POOL Pursuant to the employment agreements entered into between the Company and its three principal executives GJacobs, WJacobs and NWarrender For each fiscal year during the Employment Term, the Executive shall be eligible to be considered for an annual bonus (the “Annual Bonus”) as part of a Company-wide management bonus pool arrangement. During the fourth quarter of each year, the Chairman of the Compensation Committee of the Board (the “Compensation Committee”) shall recommend in writing a consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”) target (each, a “Target”) for the following year (the “Target Year”), which Target must be approved in writing by each of the following for as long as he remains employed by the Company: GJacobs, WJacobs, and NWarrender (collectively, and with respect to each for only as long as he is an employee of the Company, the “Executive Management Group”). If the Chairman of the Compensation Committee does not recommend in writing a Target for a Target Year that is approved in writing by all of the members of the Executive Management Group prior to the commencement of the Target Year, then the Target for the Target Year shall be equal to the actual consolidated EBITDA of the Company and its subsidiaries during the then-current year (i.e., the year preceding the Target Year) as certified in writing by the Company’s outside firm of independent certified public accountants. If the actual consolidated EBITDA of the Company and its subsidiaries during the Target Year as certified in writing by the Company’s outside firm of independent certified public accountants exceeds the Target (the amount by which the actual consolidated EBITDA of the Company and its subsidiaries during the Target Year as certified in writing by the Company’s outside firm of independent certified public accountants exceeds the Target, the “Excess Amount”), then cash equal to 33% of the Excess Amount shall be set aside by the Company as a cash management bonus pool (the “Bonus Pool”), and the amount of the Bonus Pool shall be allocated and paid out by the Company as bonuses or fees to the officers of the Company and its subsidiaries (and potentially, to directors or third parties who have significantly helped the Company and its subsidiaries during the Target Year), with the amount to be paid to each payee, including the amount of any Annual Bonus to be paid to the Executive, to be determined by unanimous written agreement of the Executive Management Group, in their sole discretion. The Executive expressly agrees and acknowledges that the amount of the Annual Bonus (if any) allocated and paid to the Executive as so determined by unanimous written agreement of the Executive Management Group shall be final, non-appealable, and binding upon the Executive, regardless of whether the Executive receives any Annual Bonus, and regardless of whether any Annual Bonus received by the Executive is higher or lower than any other person’s bonus, under any and all circumstances whatsoever. The Company shall pay the Executive the Annual Bonus, if any, no later than March 15 th The company-wide Bonus Pool for 2021 was $1,559,334 (the “Modified 2021 Bonus Pool Amount”), which was the aggregate amount that was accrued for in LIFD’s financial statements covering the period from January 1, 2021 through September 30, 2021. The Modified 2021 Bonus Pool Amount was distributed during the quarter ended March 31, 2022. Pursuant to the Amended Omnibus Agreement, the 2022 company-wide bonus pool shall not be allowed to be accrued or paid by LIFD if and to the extent that doing so would decrease LIFD’s 2022 diluted earnings per share of common stock below $0.56 per share. As of September 30, 2022, the Company did not meet the diluted earnings per share of common stock requirement of $0.42 per share ($0.56 x 3/4), and as a result, the Company eliminated the company-wide bonus pool accrual of $2,121,532, which had been accrued through June 30, 2022. Moreover, no company-wide management bonus pool accrual was booked for the quarter ended September 30, 2022. In comparison, as of December 31, 2021, the Company reported a company-wide bonus pool accrual of $1,556,055.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
INCOME TAXES
Income Taxes	NOTE 14 – INCOME TAXES On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act reduced the U.S. federal statutory tax rate, broadened the corporate tax base through the elimination or reduction of deductions, exclusions, and credits, limited the ability of U.S. corporations to deduct interest expense, and transitioned to a territorial tax system which allows for the repatriation of foreign earnings to the U.S. with a 100% federal dividends received deduction prospectively. In addition, the Tax Act required a one-time transitional tax on foreign cash equivalents and previously unremitted earnings. Several of the new provisions enacted as part of the Tax Act require clarification and guidance from the U.S. Internal Revenue Service (“IRS”) and Treasury Department. These or other changes in U.S. tax laws could impact our profits, effective tax rate, and cash flows. Significant components on the Company’s income tax provision (benefit) for continuing operations is as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Current Domestic-Federal $ 584,994 $ - $ 1,970,372 $ - Domestic-State 165,096 - 822,289 - Texas Franchise Tax 838 - 57,366 - Foreign - - - - 750,929 - 2,850,027 - Deferred Domestic-Federal $ (555,760 ) $ - (253,605 ) - Domestic-State (171,142 ) - (81,696 ) - Foreign - - - - (726,902 ) - (335,301 ) - Total Provision (Benefit) for Income Taxes $ 24,027 $ - $ 2,514,726 $ - The Company currently believes that all significant filing positions are highly certain and that all of its significant income tax filing positions and deductions would be sustained upon audit. Therefore, the Company has no significant reserves for uncertain tax positions and no adjustments to such reserves were required by generally accepted accounting principles. The Company’s policy is to recognize accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes. The Company’s tax returns are subject to examination for the years ended December 31, 2016 through 2021. A reconciliation of the amount of tax provision (benefit) computed using the U.S. federal statutory income tax rate to the provision (benefit) for income taxes on continuing operations is as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Domestic-Federal $ 103,010 $ 469,597 $ 1,911,512 $ 934,645 State tax benefit, net of federal benefit (38,623 ) 135,138 $ 582,681 268,966 Non-deductible expenses 13,941 2,334 $ 20,522 7,825 Texas franchise tax 838 - 57,366 - Revision of prior years' provision to return filing (72,471 ) - $ (72,471 ) - Change in estimated future income tax rates 94,839 - $ (37,079 ) - Change in valuation allowance (79,303 ) (607,069 ) $ 38,257 (1,211,436 ) Other 1,796 - $ 13,939 - Total Provision (Benefit) for Income Taxes $ 24,027 $ - $ 2,514,726 $ - Deferred tax assets and liabilities as of September 30, 2022 and December 31, 2021 were as follows: September 30, December 31, 2022 2021 Deferred Tax Assets: Stock-based compensation $ 2,752,667 $ 2,714,410 Sales Allowances 230,519 - Spoiled and Written-Off Inventory 634,040 - Accrued Related Party Expenses 4,412 259,463 Impairment of SmplyLifted Note and Other Receivables - 105,124 Allowance for Doubtful Accounts 40,838 64,661 Other 17,867 8,725 Less: Valuation allowance (2,752,667 ) (2,714,410 ) Total Deferred Tax Assets 927,676 437,973 Deferred Tax Liabilities: Depreciation & Amortization (260,824 ) (105,143 ) Other - (1,279 ) Total Deferred Tax Liabilities (260,824 ) (106,422 ) Net Deferred Tax Assets $ 666,852 $ 331,551

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2022
SUBSEQUENT EVENTS
Subsequent Events	NOTE 15 – SUBSEQUENT EVENTS Management of the Company has evaluated the events that have occurred through the date of the filing of this quarterly report on Form 10-Q and has noted the following subsequent events for disclosure purposes: Lifted Liquids, Inc. v. DEV Distribution, LLC , No, DC-22-15080 In October 2022, Lifted filed an action against Dev Distribution LLC, a vendor who failed to deliver certain products that Lifted has purchased and paid $263,938 for. The case is pending in the State of Texas 14th Civil District Court of Dallas County and is in its early stages. Lifted is seeking an injunction requiring the vendor to provide to Lifted the products that Lifted has purchased and paid for. Lifted is considering amending the complaint to seek the return of its molds and its packaging materials. The Company will also seek to recover any damages as a result of the vendor's actions. 2701-09 West Fulton PH, Chicago, Illinois 60612 On July 6, 2022, our wholly owned subsidiary Lifted entered into a sublease for office space in Chicago, Illinois located at 2701-09 West Fulton PH, Chicago, Illinois 60612. The sublease costs $3,000 per month, plus supplemental lease related charges such as real estate taxes and common expenses of the property that we anticipate will be commercially typical costs. The sublease was retroactively effective as of June 1, 2022 and for a five-month term that ended on October 31, 2022. The purpose of the sublease is to make available office space for the members of Lifted Made's sales team who live in Chicago. These salespeople were spending significant time in their cars commuting from Chicago to Kenosha. The sublessor is one of our affiliates, Bill McLaughlin, Lifted’s Chief Strategy Officer. The sublease is structured so that Mr. McLaughlin's lease payment obligations to the landlord are passed on to Lifted on a dollar-for-dollar basis, such that Mr. McLaughlin does not realize a cashflow profit or loss from the sublease. The sublease is currently operating on a month-to-month basis. Management expects to extend the sublease once Mr. McLaughlin is presented a new lease from his landlord.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)
Consolidated Financial Statements	Consolidated Financial Statements
Use Of Estimates	Use of Estimates
Cash And Cash Equivalents	Cash and Cash Equivalents
Fair Value Of Financial Instruments	Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) 820 defines fair value, establishes a framework for measuring fair value under GAAP and enhances disclosures about fair value measurements. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes a fair-value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value as follows: Level 1 – Level 2 – Level 3 – Ablis Holding Company, Bendistillery Inc. and Bend Spirits, Inc. are not publicly traded, and as such their financial instruments are Level 3 unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Accounts Receivable	Accounts Receivable
Inventory	Inventory September 30, 2022 December 31, 2021 Raw Goods $ 3,213,772 $ 2,927,727 Finished Goods $ 3,130,905 $ 882,217 Total Inventory $ 6,344,677 $ 3,809,944 Monthly overhead costs such as payments for rent, utilities, insurance, and indirect labor are allocated to finished goods based on the estimated percentage cost toward the finished goods. Depreciation expense related to certain machinery and equipment is also allocated to finished goods. At September 30, 2022, $112,507 of overhead costs were allocated to finished goods. In comparison, during the quarter ended September 30, 2021, $36,457 of overhead costs were allocated to finished goods. During the nine months ended September 30, 2022, $3,279,262 of obsolete and spoiled inventory was written off; this is compared to $234,351 of obsolete and spoiled inventory written off during the nine months ended September 30, 2021. Of the $3,279,262 of obsolete inventory that was written off during the nine months ended September 30, 2022, $2,479,798 of it was recognized during the quarter ended September 30, 2022. This write-off primarily related to $2,313,902 worth of certain 2 mL disposable vapes written off due to clogging issues (the “Clogged Vapes”). Management believes that the clogging was caused by the summer heat wave (the third hottest summer on record in the USA). The heat caused the oil in the Clogged Vapes to lose viscosity, so more oil solidified in the coils as they were brought to room temperature. Because these Clogged Vapes did not have preheat or variable voltage settings, the oil could not be unclogged from the coils. Management discontinued the sale of the Clogged Vapes during the third quarter. Lifted’s 2 mL disposable vapes have now been superseded by 3 mL disposable vapes that do have preheat and variable voltage settings, so management expects that this write off of Clogged Vapes should be a one-time occurrence. Management is attempting to negotiate an agreement pursuant to which the manufacturer of the Clogged Vapes will subsidize or share, in some fashion, in the losses that have been sustained by Lifted due to the Clogged Vapes; however, there can be no guarantees or assurances whatsoever that such an agreement to subsidize or share in such losses can be successfully negotiated. The process of determining obsolete inventory during the quarter involved: 1) Identifying raw goods that would no longer be used in the manufacture of finished goods; 2) Identifying finished goods that would no longer be sold or that are slow moving; and 3) Valuing and expensing raw and finished goods that would no longer be sold.
Fixed Assets	Fixed Assets Management regularly reviews property and equipment and other long-lived assets for possible impairment. This review occurs annually, or more frequently if events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. If there is indication of impairment, management then prepares an estimate of future cash flows (undiscounted and without interest charges) expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. The fair value is estimated using the present value of the future cash flows discounted at a rate commensurate with management’s estimates of the business risks. Preparation of estimated expected future cash flows is inherently subjective and is based on management’s best estimate of assumptions concerning expected future conditions. Long-lived assets held for sale are recorded at the lower of their carrying amount or fair value less cost to sell.
Security Deposit	Security Deposits th The Company has paid security deposits for its leased facilities located at 8920 58 th th th The Company had paid a security deposit to its lessor for the Company’s former office, manufacturing and warehouse space in Zion, IL, that was rented on a month-to-month basis from June 1, 2021 through November 2021. The security deposit was written off at December 31, 2021.
State Licensing Deposits	State Licensing Deposits
Revenue	Revenue The majority of the Company’s sales are of branded products goods to distributors, wholesalers, and end consumers. A minority of the Company’s sales are of raw goods to manufacturers, distributors and wholesalers. The majority of the Company’s sales are to distributors, followed by the Company’s sales to wholesalers, and then the Company’s sales to end consumers. Distributors primarily sell Lifted’s products to vape and smoke shops, stores specializing in cannabinoid-infused products, convenience stores, gas stations, health food stores, and other outlets. Typically, the Company’s revenue is recognized when it satisfies a single performance obligation by transferring control of its products to a customer. Control is generally transferred when the Company’s products are either shipped or delivered based on the terms contained within the underlying contracts or agreements. If the shipping terms on a sale are FOB destination, the revenue is deferred until the product reaches its destination. The Company excludes from revenues all taxes assessed by a governmental authority that are imposed on the sale of its products and collected from customers. Discounts and rebates to customers are recorded as a reduction to gross sales. Management believes that adequate provision has been made for cash discounts, returns and spoilage based on the Company’s historical experience. Described below are some of the reasons why a customer may want to return an ordered item, and how the Company responds in each situation: 1) The ordered item breaks, melts, clogs, leaks or separates in transit to the customer. In this case, the Company will replace the broken, melted or separated item at no cost to the customer. 2) The Company sent the wrong item to the customer. In this case, the Company will allow the customer to keep, at no cost to the customer, the item that was mistakenly sent to the customer. The Company will also send the correct product to the customer, at no cost to the customer. 3) The customer ordered the wrong product. In this case, the customer, at his/her own expense, must mail the mistakenly ordered product back to the Company, and the Company will mail the correct product to the customer. 4) The ordered item is recalled. In a situation where product is recalled, the Company will offer a replacement, credit, or refund. As described above in the section “ Inventory Inventory Disaggregation of Revenue During the quarter ended September 30, 2022, approximately 99% of the Company’s sales occurred inside of the United States of America. During the quarter ended September 30, 2021, approximately 99% of the Company’s sales occurred inside of the United States of America as well. The Company has considered providing disaggregation of revenue by information regularly reviewed by the chief operating decision maker for evaluating the financial performance of operating segments, such as type of good, geographical region, market or type of customer, type of contract, contract duration, timing of transfer of goods, and sales channels. Due to the rapidly evolving nature of our industry, the Company is constantly launching new products to stay ahead of trends, finding new sales channels, initiating new distribution networks and modifying the prices of its products. Shown below is a table showing the approximate disaggregation of historical revenue: Type of Sale For the three months ended September 30, 2022 % of Net Sales For the three months ended September 30, 2021 % of Net Sales For the nine months ended September 30, 2022 % of Net Sales For the nine months ended September 30, 2021 % of Net Sales Net sales of raw materials to customers $ 21,707 0.2 % $ 105,960 1.2 % $ 40,339 0.1 % $ 155,695 0.8 % Net sales of products to private label clients 766,129 6.8 % $ 663,968 7.5 % $ 850,271 1.8 % $ 2,692,091 14.3 % Net sales of products to wholesalers 1,404,590 12.5 % $ 1,255,947 14.2 % $ 5,825,584 12.6 % $ 2,842,714 15.1 % Net sales of products to distributors 8,653,948 77.0 % $ 6,273,836 71.1 % $ 36,393,678 78.9 % $ 12,060,313 63.9 % Net sales of products to end consumers 390,903 3.5 % $ 521,242 5.9 % $ 2,992,784 6.5 % $ 1,118,554 5.9 % Net Sales $ 11,237,277 100.0 % $ 8,820,952 100.0 % $ 46,102,656 100.0 % $ 18,869,366 100.0 %
Deferred Revenue	Amounts received from a customer before the purchased product is shipped to the customer is treated as deferred revenue. If cash is not received, an accounts receivable is recognized for the invoiced order, but revenue is not recognized until the order is fully shipped. Accounts receivable includes amounts associated with partially shipped orders, for which the unshipped portion is a contract asset. Contract assets represent invoiced but unfulfilled performance obligations. The table shown below represents the composition of deferred revenue between contract assets (invoiced but unfulfilled performance obligations) and deposits from customers from unfulfilled orders as of September 30, 2022 and December 31, 2021. September 30, 2022 December 31, 2021 Contract Assets (invoiced but unfulfilled performance obligations) $ 784,047 $ 1,650,258 Deposits from customers for unfulfilled orders $ - $ 524,135 Total Deferred Revenue $ 784,047 $ 2,174,393
Cost Of Goods Sold	Cost of Goods Sold
Operating Expenses	Operating Expenses
Income Taxes	Income Taxes
Basic And Diluted Earnings (loss) Per Common Share	Basic and Diluted Earnings (Loss) Per Common Share For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net Income/(Loss) $ 423,486 $ 2,236,178 $ 6,587,739 $ 4,450,690 Weighted average number of common shares outstanding: Basic 14,102,578 13,015,717 14,073,366 10,525,461 Diluted 15,884,776 16,257,915 15,855,564 13,767,659 Basic Net Income (Loss) per Common Share $ 0.03 $ 0.17 $ 0.47 $ 0.42 Diluted Net Income (Loss) per Common Share $ 0.03 $ 0.14 $ 0.41 $ 0.32 As of September 30, 2022, in addition to our outstanding common stock, we have issued (a) options to purchase 1,076,698 shares of common stock at $2.00 per share, (b) warrants to purchase 155,500 shares of common stock at $1.00 per share, (c) rights to purchase warrants to purchase 100,000 shares of common stock at $1.85 per share, and (d) warrants to purchase 2,295,000 shares of common stock at $5.00 per share. Regarding the aforementioned warrants to purchase 2,295,000 shares of our common stock at an exercise price of $5.00 per share: of the total, warrants to purchase 1,550,000 shares of our common stock are vested, while the remaining warrants to purchase 745,000 shares of our common stock are not vested and are subject to certain conditions and requirements. At September 30, 2022, the Company had Series A Preferred Stock outstanding convertible into 450,000 shares of common stock; these are included in the diluted earnings calculation. Also at September 30, 2022, the Company had Series B Preferred Stock outstanding convertible into 40,000 shares of common stock; these are not included in the diluted earnings calculation because the exercise price ($5.00/share) was higher than the stock closing price at September 30, 2022 (3.40/share). In comparison, as of September 30, 2021, in addition to our outstanding common stock, we have issued (a) options to purchase 1,086,698 shares of common stock at $2.00 per share, (b) warrants to purchase 205,500 shares of common stock at $1 per share, (c) rights to purchase warrants to purchase 1,375,000 shares of common stock at between $0.01 and $1.85 per share, and (d) warrants to purchase 2,295,000 shares of common stock at $5.00 per share. Regarding the aforementioned rights to purchase warrants to purchase 1,375,000 shares of common stock at between $0.01 and $1.85 per share as of September 30, 2021: exercise rights to purchase 1.25 million shares of our common stock by exercise of the foregoing warrants are not vested and are not exercisable until a performance contingency is met. Regarding the aforementioned warrants to purchase 2,295,000 shares of our common stock at an exercise price of $5.00 per share as of September 30, 2021: of the total, warrants to purchase 1,650,000 shares of our common stock are vested, while the remaining warrants to purchase 645,000 shares of our common stock are not vested and are subject to certain conditions and requirements. Also outstanding at September 30, 2021, the Company had Series A Preferred Stock outstanding convertible into 575,000 shares of common stock; these are included in the diluted earnings calculation. At September 30, 2021, the Company also had Series B Preferred Stock outstanding convertible into 40,000 shares of common stock; these are not included in the diluted earnings calculation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes On August 5, 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) The Company is researching what other pronouncements may be applicable to the Company’s accounting and whether or not any other pronouncements should be adopted.
Advertising And Marketing Expenses	Advertising and Marketing Expenses
Compensated Absences	Compensated Absences
Off Balance Sheet Arrangements	Off-Balance Sheet Arrangements
Reclassifications	Reclassifications

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2022
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
Schedule Of Inventory	September 30, 2022 December 31, 2021 Raw Goods $ 3,213,772 $ 2,927,727 Finished Goods $ 3,130,905 $ 882,217 Total Inventory $ 6,344,677 $ 3,809,944
Schedule Of Historical Revenue	Type of Sale For the three months ended September 30, 2022 % of Net Sales For the three months ended September 30, 2021 % of Net Sales For the nine months ended September 30, 2022 % of Net Sales For the nine months ended September 30, 2021 % of Net Sales Net sales of raw materials to customers $ 21,707 0.2 % $ 105,960 1.2 % $ 40,339 0.1 % $ 155,695 0.8 % Net sales of products to private label clients 766,129 6.8 % $ 663,968 7.5 % $ 850,271 1.8 % $ 2,692,091 14.3 % Net sales of products to wholesalers 1,404,590 12.5 % $ 1,255,947 14.2 % $ 5,825,584 12.6 % $ 2,842,714 15.1 % Net sales of products to distributors 8,653,948 77.0 % $ 6,273,836 71.1 % $ 36,393,678 78.9 % $ 12,060,313 63.9 % Net sales of products to end consumers 390,903 3.5 % $ 521,242 5.9 % $ 2,992,784 6.5 % $ 1,118,554 5.9 % Net Sales $ 11,237,277 100.0 % $ 8,820,952 100.0 % $ 46,102,656 100.0 % $ 18,869,366 100.0 %
Schedule Of Deferred Revenue	September 30, 2022 December 31, 2021 Contract Assets (invoiced but unfulfilled performance obligations) $ 784,047 $ 1,650,258 Deposits from customers for unfulfilled orders $ - $ 524,135 Total Deferred Revenue $ 784,047 $ 2,174,393
Schedule Of Earnings Per Share, Basic And Diluted	For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net Income/(Loss) $ 423,486 $ 2,236,178 $ 6,587,739 $ 4,450,690 Weighted average number of common shares outstanding: Basic 14,102,578 13,015,717 14,073,366 10,525,461 Diluted 15,884,776 16,257,915 15,855,564 13,767,659 Basic Net Income (Loss) per Common Share $ 0.03 $ 0.17 $ 0.47 $ 0.42 Diluted Net Income (Loss) per Common Share $ 0.03 $ 0.14 $ 0.41 $ 0.32

PROPERTY AND EQUIPMENT NET (Tab

PROPERTY AND EQUIPMENT NET (Tables)	9 Months Ended
	Sep. 30, 2022
PROPERTY AND EQUIPMENT NET (Tables)
Schedule Of Property And Equipment	Asset Class September 30, 2022 December 31, 2021 Machinery & Equipment $ 593,208 $ 258,533 Leasehold Improvements $ 385,220 $ 152,985 Trade Show Booths $ 10,000 $ 23,488 Vehicles $ 75,047 $ 22,309 Computer Equipment $ 7,312 $ 7,312 Furniture & Fixtures $ 83,286 $ 46,553 Sub-total: $ 1,154,073 $ 511,180 Less: accumulated depreciation $ (164,384 ) $ (77,967 ) $ 989,688 $ 433,213
Schedule Of Estimated Useful Lives	Asset Class Estimated Useful Life Machinery & Equipment 60 months Leasehold Improvements 60 months Trade Show Booths 36 months Vehicles 60 months Computer Equipment 60 months Furniture & Fixtures 60 months

SHAREHOLDERS EQUITY (Tables)

SHAREHOLDERS EQUITY (Tables)	9 Months Ended
	Sep. 30, 2022
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
Schedule Of Share-based Compensation, Stock Options And Warrant Activity	Weighted-Average Aggregate Weighted-Average Remaining Contractual Intrinsic Shares Exercise Price Term (Years) Value Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, July 1, 2022 2,882,198 $ 3.55 2.55 $ 2,834,897 Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, September 30, 2022 2,882,198 $ 3.55 2.30 $ 2,035,579 Outstanding Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants, September 30, 2022 3,627,198 $ 3.85 2.32 $ 2,035,579

CONTINGENT CONTRACTUAL OBLIGA_2

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Tables)
Rent Schedule	Date Base Monthly Rent 10/01/2021 – 09/30/2022 $ 2,395.84 10/01/2022 – 09/30/2023 $ 2,467.72 10/01/2023 – 09/30/2024 $ 2,541.75 Date Base Monthly Rent 01/01/2022 – 12/31/2022 $ 4,000.00 01/01/2023 – 12/31/2023 $ 4,120.00 01/01/2024 – 12/31/2024 $ 4,243.60 01/01/2025 – 12/31/2025 $ 4,370.91 01/01/2026 – 12/31/2026 $ 4,502.34 Date Base Monthly Rent 07/01/2022 – 06/30/2023 $ 5,493.25 07/01/2023 – 06/30/2024 $ 5,630.58 07/01/2024 – 06/30/2025 $ 5,771.35 07/01/2025 – 06/30/2026 $ 5,915.63 07/01/2026 – 06/30/2027 $ 6,063.52
Schedule Of Operating Lease Assets And Liabilities	Asset Balance Sheet Line September 30, 2022 Operating Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $71,554 in 2022 Non-Current Assets $ 525,942 Liability Balance Sheet Line September 30, 2022 Operating Lease Liabilities Current Liabilities $ 115,010 Non-Current Liabilities $ 414,875 Asset Balance Sheet Line September 30, 2022 Finance Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $195,208 in 2022 Non-Current Assets $ 1,285,200 Liability Balance Sheet Line September 30, 2022 Finance Lease Liabilities Current Liabilities $ (26,079 ) Finance Lease Liabilities Non-Current Liabilities $ 1,376,439
Schedule Of Lease Cost	Lease Cost: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Finance lease expense: Amortization of Right-of-Use Assets $ 10,800 $ 12,337 Interest on lease liabilities 23,924 13,188 Operating lease expense 20,147 - Total $ 54,871 $ 25,525 Lease Cost: Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Finance lease expense: Amortization of Right-of-Use Assets $ 35,473 $ 37,010 Interest on lease liabilities 46,445 39,673 Operating lease expense 60,442 8,000 Total $ 142,360 $ 84,683
Schedule Of Lease Liability	Maturity Analysis as of September 30, 2022: Finance Operating 2022 $ 35,133 $ 55,070 2023 1,445,970 146,018 2024 - 142,211 2025 - 122,573 2026 - 125,903 Thereafter - 36,381 Total 1,481,103 628,156 Less: Present value discount (138,730 ) (98,271 ) Lease liability $ 1,342,373 $ 529,885

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2022
INCOME TAXES
Schedule Of Provision For Income Taxes	For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Current Domestic-Federal $ 584,994 $ - $ 1,970,372 $ - Domestic-State 165,096 - 822,289 - Texas Franchise Tax 838 - 57,366 - Foreign - - - - 750,929 - 2,850,027 - Deferred Domestic-Federal $ (555,760 ) $ - (253,605 ) - Domestic-State (171,142 ) - (81,696 ) - Foreign - - - - (726,902 ) - (335,301 ) - Total Provision (Benefit) for Income Taxes $ 24,027 $ - $ 2,514,726 $ - For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Domestic-Federal $ 103,010 $ 469,597 $ 1,911,512 $ 934,645 State tax benefit, net of federal benefit (38,623 ) 135,138 $ 582,681 268,966 Non-deductible expenses 13,941 2,334 $ 20,522 7,825 Texas franchise tax 838 - 57,366 - Revision of prior years' provision to return filing (72,471 ) - $ (72,471 ) - Change in estimated future income tax rates 94,839 - $ (37,079 ) - Change in valuation allowance (79,303 ) (607,069 ) $ 38,257 (1,211,436 ) Other 1,796 - $ 13,939 - Total Provision (Benefit) for Income Taxes $ 24,027 $ - $ 2,514,726 $ -
Schedule Of Deferred Tax Assets And Liabilities	September 30, December 31, 2022 2021 Deferred Tax Assets: Stock-based compensation $ 2,752,667 $ 2,714,410 Sales Allowances 230,519 - Spoiled and Written-Off Inventory 634,040 - Accrued Related Party Expenses 4,412 259,463 Impairment of SmplyLifted Note and Other Receivables - 105,124 Allowance for Doubtful Accounts 40,838 64,661 Other 17,867 8,725 Less: Valuation allowance (2,752,667 ) (2,714,410 ) Total Deferred Tax Assets 927,676 437,973 Deferred Tax Liabilities: Depreciation & Amortization (260,824 ) (105,143 ) Other - (1,279 ) Total Deferred Tax Liabilities (260,824 ) (106,422 ) Net Deferred Tax Assets $ 666,852 $ 331,551

DESCRIPTION OF THE BUSINESS O_2

DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details Narrative) - USD ($)

1 Months Ended

9 Months Ended

Jul. 06, 2022

Jul. 05, 2022

Jun. 07, 2022

Feb. 09, 2022

Jan. 03, 2022

Jul. 25, 2022

Dec. 30, 2021

Feb. 24, 2020

Sep. 30, 2022

Mar. 01, 2022

Dec. 31, 2021

May 18, 2021

Apr. 09, 2019

Debt And Equity Offerings

$ 5,000,000

Repayment of principal and interest due amount

$ 3,750,000

NWarrender [Member]

Total purchase consideration

$ 7,500,000

Cash payment

3,750,000

Promissory note issued

$ 3,750,000

Interest rate

2%

Promissory note description

The $3.75M Note was secured by (a) a first lien security interest in all of the assets of the Company and Lifted; and (b) a pledge of: (i) all of the capital stock of Lifted; (ii) all of the common stock of Bendistillery, Bend Spirits and Ablis that is owned by the Company; and (iii) all of the capital stock of any other entity owned by the Company, Lifted or any of their subsidiaries, pursuant to a Collateral Stock Pledge Agreement between NWarrender, as Secured Party, and the Company and Lifted, as Pledgors.

Acceleration agreement description

Under the terms of the Acceleration Agreement, we were obligated to repay the remaining principal balance as follows: $1,374,999 on or before December 31, 2022, and $458,335 on or before December 31, 2024. Then, on July 8, 2022, we prepaid $916,666, along with accrued interest

Purchase price of building

$ 1,375,000

LFTD PARTNERS INC [Member]

Promissory Note

$ 3,750,000

3,750,000

$ 3,750,000

Payment of accrued interest

$ 29,384

Repayment of promissory note

$ 916,668

Sublease costs

$ 3,000

Securing amount

$ 2,750,000

Repayment Of Promissory Note

1,000,000

Reloaned Of Promissory Note

2,750,000

Principal Promissory Note

$ 1,833,334

$ 2,750,000,000,000

Description Security Interest

The $2,750,000 Promissory Note payable jointly by the Company and Lifted to NWarrender is secured by a perfected first lien security interest (the “Security Interest”) that encumbers all of the assets of the Company and Lifted

Description Pay Off

The Company was obligated to pay off the principal of the $2.75M Note in five semi-annual payments to NWarrender of $458,333 and a sixth and final semi-annual payment to NWarrender of $458,335, in each case plus accrued interest, starting on June 30, 2022.

Purchase Of Building

$ 1,375,000

Ownership Interests

2.50%

100%

4.99%

Description Membership Interest

Prior to February 9, 2022, Lifted Made had a 50% membership interest in SmplyLifted LLC, which sells tobacco-free nicotine pouches under the brand name FR3SH (www.GETFR3SH.com). On February 9, 2022, Lifted Made sold its 50% membership interest in SmplyLifted LLC to Corner Vapory LLC, an affiliate of Nicholas S. Warrender (“NWarrender”), CEO of Lifted, for $1, plus ninety-nine percent (99%) of any and all payments and other consideration received or owed to Corner Vapory LLC in regard to SmplyLifted’s existing inventory of FR3SH brand tobacco-free nicotine pouches. Lifted has the option to re-purchase the 50% membership interest in SmplyLifted LLC from Corner Vapory LLC for $1,000 in cash at any time on or before December 31, 2032.

Promissory Note Amount

$ 5,000,000

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details)
Raw Goods	$ 3,213,772	$ 2,927,727
Finished Goods	3,130,905	882,217
Total Inventory	$ 6,344,677	$ 3,809,944

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Percentage Of Net Sales	100%	100%	100%	100%
Net Sales	$ 11,237,277	$ 8,820,952	$ 46,102,656	$ 18,869,366
Customer [Member]
Percentage Of Net Sales	0.20%	1.20%	0.10%	0.80%
Net Sales	$ 21,707	$ 105,960	$ 40,339	$ 155,695
Private Label Clients [Member]
Percentage Of Net Sales	6.80%	7.50%	1.80%	14.30%
Net Sales	$ 766,129	$ 663,968	$ 850,271	$ 2,692,091
Wholesalers [Member]
Percentage Of Net Sales	12.50%	14.20%	12.60%	15.10%
Net Sales	$ 1,404,590	$ 1,255,947	$ 5,825,584	$ 2,842,714
Distributors [Member]
Percentage Of Net Sales	77%	71.10%	78.90%	63.90%
Net Sales	$ 8,653,948	$ 6,273,836	$ 36,393,678	$ 12,060,313
End Consumers [Member]
Percentage Of Net Sales	3.50%	5.90%	6.50%	5.90%
Net Sales	$ 390,903	$ 521,242	$ 2,992,784	$ 1,118,554

BASIS OF PRESENTATION AND SIG_6

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details)
Contract Assets (invoiced But Unfulfilled Performance Obligations)	$ 784,047	$ 1,650,258
Deposits From Customers For Unfulfilled Orders	0	524,135
Total Deferred Revenue	$ 784,047	$ 2,174,393

BASIS OF PRESENTATION AND SIG_7

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details Narrative)
Net Income/(loss)	$ 423,486	$ 2,236,178	$ 6,587,739	$ 4,450,690
Weighted Average Number Of Basic Share Outstanding	14,102,578	13,015,717	14,073,366	10,525,461
Weighted Average Number Of Diluted Shares Outstanding	15,884,776	16,257,915	15,855,564	13,767,659
Basic Net Income/loss Per Share	$ 0.03	$ 0.17	$ 0.47	$ 0.42
Diluted Net Income/loss Per Share	$ 0.03	$ 0.14	$ 0.41	$ 0.32

BASIS OF PRESENTATION AND SIG_8

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Feb. 14, 2022	Dec. 31, 2021	Mar. 31, 2021
Bonus Pool Accrual	$ 2,121,532		$ 2,121,532		$ 1,556,055	$ 1,556,055
Write off amount			2,313,902
Sale allownace			$ 841,269
Issued Common Stock	14,102,578		14,102,578			14,027,578
Allowances For Bad Debts	$ 128,589		$ 128,589			$ 239,101
Inventory Write Down			3,279,262	$ 234,351
Operating Expense	318,474	$ 1,782,858	$ 7,765,637	4,870,764
Prefered Stock
Warrant To Purchase			1,550,000
Fdic Limit	250,000		$ 250,000				$ 250,000
Allowances For Bad Debts	128,589		128,589				$ 239,101
Fixed Assets Capitalized	2,500		2,500
Fixed Assets Expensed	2,500		2,500
Packaging Materials			561,417
Inventory Write Down			3,279,262	234,351
Cost of goods sold			3,279,262	234,351
Advertising Cost	334,215	$ 86,438	550,612	236,598
Operating Expense			318,474	1,782,858
Obsolete and spoiled inventory	$ 2,479,798		3,279,262
Pto Accrual			13,912
Overhead Cost			$ 112,507	$ 36,457
Remaining Warrants To Purchase			745,000
Series B Preferred Stock
A Preferred Stock Outstanding Convertible Into Common Stock	40,000		40,000
Exercise Price	$ 5		$ 5
Stock Closing Price	$ 3.40		$ 3.40
Series A Preferred Stock [Member]
Aggregate Purchase Price							500,000
Issued Common Stock							645,000
A Preferred Stock Outstanding Convertible Into Common Stock	475,000		475,000				1,650,000
Stock Option
Options To Purchase			1,076,698	1,086,698
Common Stock Per Share			$ 2
Stock Option | Minimum [Member]
Ercisable				$ 0.0001
Stock Option | Maximum [Member]
Ercisable				$ 2
Warrant One [Member]
Common Stock Per Share			$ 1
Warrant To Purchase			155,500	1,375,000
Ercisable Maximum				$ 1.85
Ercisable Minimum				0.01
Warrant Two [Member]
Common Stock Per Share			$ 1.85	$ 5
Warrant To Purchase			100,000	2,295,000
Warrant Three [Member]
Common Stock Per Share			$ 5	$ 5
Warrant To Purchase			2,295,000	450,000
Warrant Four [Member]
Common Stock Per Share			$ 1.85
Warrant To Purchase			1,350,000	1,250,000
Aforementioned Warrants			2,295,000
Common Stock Per Share One			$ 5
Ercisable				$ 5
Financing Warrant
Warrant To Purchase				31,250
Ercisable				$ 0.03
Lifted Merger Agreement [Member]
Promissory Note	$ 2,750,000		$ 2,750,000

RECEIPT OF LOANS UNDER THE EC_2

RECEIPT OF LOANS UNDER THE ECONOMIC INJURY DISASTER LOAN PROGRAM AND THE PAYCHECK PROTECTION PROGRAM (Details Narative) - USD ($)		1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 14, 2020	Apr. 20, 2021	Jun. 30, 2021	Sep. 30, 2022	Mar. 31, 2021
Accrued Interest					$ 1,443
Forgiveness Of The Loan			$ 82
Interest Payable On The Ppp Loan		$ (1,525)
Ppp Loan		$ (149,622)
Gain On The Forgiveness				$ 151,147
BMO Harris Bank [Member]
Principal Amount	$ 149,622
Maturity Date	Apr. 14, 2022
Interest Rate	1%

RISKS AND UNCERTAINTIES (Detail

RISKS AND UNCERTAINTIES (Details Narrative) - USD ($)	9 Months Ended		10 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2020	Feb. 14, 2022	Dec. 31, 2021	Aug. 30, 2021
Debt	$ 500,000
Purchase property	1,375,000
Research and development	19,800
Accumulated Deficit	(4,842,407)				$ (11,414,602)
Accrued Bonus	$ 2,121,532			$ 1,556,055	$ 1,556,055
Diluted Earnings Per Share Of Common Stock	$ 0.56
Cost Of Research And Development	$ 100,000
Sales [Member]
Concentration Risk, Percentage	50%	50%	8%
Five Vendors [Member] | Supplies [Member]
Concentration Risk, Percentage	88%	70%
Six Vendors [Member] | Supplies [Member]
Concentration Risk, Percentage	73%	62%
Nicholas S Warrender [Member]
Financial Obligations	$ 2,750,000
Promisssory Note	$ 2,750,000
Promissory Note Accruing Interest Percentage	2.50%
Omnibus Agreement [Member] | Nicholas S Warrender [Member]
Accrued Bonus	$ 16,575
Prefered Stock, Dividend Rate	3%
Obligation To Purchase	$ 1,375,000
Additional Bonus	500,000
GJacobs [Member]
Accrued Bonus	166,667		$ 300,000			$ 8,438
WJacobs [Member]
Accrued Bonus	$ 166,667

THE COMPANYS INVESTMENTS (Detai

THE COMPANYS INVESTMENTS (Details Narrative) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Feb. 09, 2022	Sep. 22, 2020	Apr. 30, 2019
Loss	$ 6,587,739	$ 4,450,690
SmplyLifted LLC
Investment	200,000			$ 195,571
Loss	$ 195,571		$ 195,571	$ 4,429
Ownership Interests	50%			50%	50%	50%	50%
Receivables			$ 388,727
Cash					$ 1,000
Lifted Amount For Agreement					$ 1
Payment Percentage					99%
Bendistillery
Ownership Interests							4.90%
Purchse Price							$ 1,896,200

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Gross Property And Equipment	$ 1,154,073	$ 511,180
Less: Accumulated Depreciation	(164,384)	(77,967)
Net Property And Equipment	989,688	433,213
Leasehold Improvements [Member]
Gross Property And Equipment	385,220	152,985
Trade Show Booth [Member]
Gross Property And Equipment	10,000	23,488
Vehicles [Member]
Gross Property And Equipment	75,047	22,309
Computer Equipment [Member]
Gross Property And Equipment	7,312	7,312
Furniture and Fixtures [Member]
Gross Property And Equipment	83,286	46,553
Machinery and Equipment [Member]
Gross Property And Equipment	$ 593,208	$ 258,533

PROPERTY AND EQUIPMENT, NET (_2

PROPERTY AND EQUIPMENT, NET (Details 1)	9 Months Ended
	Sep. 30, 2022
Leasehold Improvements [Member]
Estimated Useful Life	60 years
Trade Show Booth [Member]
Estimated Useful Life	36 years
Vehicles [Member]
Estimated Useful Life	60 years
Computer Equipment [Member]
Estimated Useful Life	60 years
Furniture and Fixtures [Member]
Estimated Useful Life	60 years
Machinery and Equipment [Member]
Estimated Useful Life	60 years

PROPERTY AND EQUIPMENT, NET (_3

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
PROPERTY AND EQUIPMENT NET (Tables)
Depreciation Expense	$ 18,279	$ 10,992	$ 49,854	$ 53,483

NOTES RECEIVABLE (Details Narra

NOTES RECEIVABLE (Details Narrative) - USD ($)	Dec. 31, 2021	Mar. 31, 2021
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details Narrative)
Imputed Interest Receivable	$ 580	$ 149
Loan To Smplylifted Llc	$ 387,500	$ 387,500

INTANGIBLE ASSETS, NET (Details

INTANGIBLE ASSETS, NET (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
INTANGIBLE ASSETS, NET (Details Narrative)
Amortization Expenses	$ 1,040	$ 417	$ 1,040	$ 1,251
Finite-lived Intangible Asset, Useful Life			32 years

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)			1 Months Ended			3 Months Ended			9 Months Ended
	Jun. 07, 2022 USD ($)	Jan. 03, 2022 USD ($)	Dec. 30, 2021 USD ($)	Aug. 30, 2021 USD ($) $ / shares shares	Feb. 29, 2020 USD ($) shares	Sep. 30, 2022 USD ($) integer $ / shares	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) integer $ / shares shares	Sep. 30, 2021 USD ($) $ / shares	Jun. 30, 2022 $ / shares	Feb. 14, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 01, 2021 integer	Apr. 05, 2021 USD ($)	Feb. 10, 2021 USD ($)	Feb. 02, 2021 USD ($)	Jan. 01, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 01, 2020 USD ($)	Feb. 24, 2020 USD ($) $ / shares
Shipping Costs						$ 7,377
Repaid Promissory Note			$ 3,750,000
Sublease costs	$ 3,000
Purchase of property									$ 1,375,000
Purchase property									1,375,000
Reimbursement expenses						377,416		$ 170,820	1,288,486	$ 350,985
Bonus Payable						$ 2,121,532			$ 2,121,532			$ 1,556,055	$ 1,556,055
Exercise Price | $ / shares						$ 3.55			$ 3.55		$ 3.55
Vincent J Mesolella
Payments for commissions									$ 40,000
Director Fees Received									4,000
Gerard M. Jacobs
Payments for commissions										143,713
Accrued Interest Rate																		2%
Bonus Payable																			$ 350,000
Deferred Compensation																		$ 58,439
Interest Payable										7,043
Prepaid Consulting Fee																				$ 350,000
W Jacobs
Payments for commissions										152,431
Accrued Interest Rate																		2%
Reimbursement expenses								233
Bonus Payable																			350,000
Deferred Compensation																		$ 58,439
Interest Payable										2,992
Prepaid Consulting Fee																				$ 350,000
Joshua A. Bloom
Payments for commissions									20,000
Director Fees Received									4,000
Richard E. Morrissy
Director Fees Received									4,000
James S. Jacobs
Director Fees Received									4,000
Kevin J. Rocio
Director Fees Received									4,000
Robert T Warrender III [Member]
Payments for commissions						$ 0		26,196	$ 54,384	43,678
NintyFiveHoldingsLLC [Member]
Purchase Price													$ 68,888
Rented Space | integer						11,238			11,238					3,300
Rented Space Per Foot									6.13
Increase In Base Rent									2%
Beneficial Common Stock | shares									3,900,455
Lifted Paid Rent						$ 17,567		17,219	$ 52,700	$ 51,663
Property taxes | $ / shares									$ 3.25	$ 3.25
Corner Vapory
Purchase						9,306		21,842	$ 40,410	$ 34,032
Receivable									17,260	9,070
Robert T Warrender II [Member]
Shipping Costs						75,838			150,266
Wages Paid						16,154			39,231
Reimbursements expense						4,977			4,977
Liquid Event Marketing [Member]
Purchase property								54,829
Payment To Related Party								26,465		26,465
Payable amount						2,262			2,262
Reimbursement expenses									8,862
Payable amount for labour								$ 19,965		$ 19,965
Purchase services						0			6,470
NWarrender [Member]
Prepayment of promissory note	916,666
Payments for commissions							$ 680,000		680,000
Promissory Note Payable						2,750,000			2,750,000
Promissory Note Pay Off Principal						2,750,000			2,750,000
Five Semi Annual Payments						458,333			458,333
Final Semi-annual Payment						458,335			458,335
Accrued Interest Payable	29,384					16,575			16,575
Promissory Note						3,750,000			3,750,000
Promissory note secured																					$ 3,750,000,000,000
Equity capital						5,000,000			5,000,000
Purchase property									1,375,000
Accrued Interest Rate																					2%
Principal Amount	2,750,000																		3,750,000
Remaining Amount	1,833,334,000,000
Remaining principal balance	1,374,999,000,000
NWarrender [Member] | December 31 2024 [Member]
Remaining principal balance	458,335,000,000
NWarrender [Member] | July 8, 2022 [Member]
Prepayment of promissory note	916,666
NWarrender [Member] | July 25 2022 [Member]
Repayment of promissory note	$ 916,668
SmplyLifted LLC
Reimbursement						313			313
Due To Related Party						9,719			9,719								$ 450
Payment To Related Party															$ 9,719	$ 450
payment on behalf of the related party									19,992
Invoices for related party									146
Remaining payment for invoices									146
Warrender Enterprise
Exercise Price | $ / shares																					$ 5
Warrants Issued | shares					1,820,000
Re-loan		$ 2,750,000
Cash Consideration					$ 3,750,000
Stock Consideration | shares					3,900,455
Warrender Enterprise | Unregistered common stock
Stock Consideration | shares					645,000
Warrender Enterprise | Secured Promissory Note
Cash Consideration					$ 3,750,000
GJacobs [Member]
Reimbursement expenses				$ 8,438
Aggregate purchase price				$ 1
Warrant purchase | shares				750,000
Purchase price | $ / shares				$ 0.01
Unregistered common stock | shares				31,250
Exercise price | $ / shares				$ 0.03
Bonus Payable				$ 8,438		$ 166,667			$ 166,667										$ 300,000

SHAREHOLDERS EQUITY (Details)

SHAREHOLDERS EQUITY (Details) - USD ($)	6 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022
SHAREHOLDERS EQUITY (Details)
Share-based Compensation Arrangement By Share-based Payment Award, Options, Exercisable, Number	2,882,198	2,882,198
Share-based Compensation Arrangement By Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 3.55	$ 3.55
Share-based Compensation Arrangement By Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years 6 months 18 days	2 years 3 months 18 days
Share-based Compensation Arrangement By Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 2,834,897	$ 2,035,579
Share-based Compensation Arrangement By Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price		$ 3.85
Share-based Compensation Arrangement By Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		2 years 3 months 25 days
Share-based Compensation Arrangement By Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 36
Outstanding Options Rights To Purchase Warrants To Purchase Common Stock And Financing Warrant		3,627,198

SHAREHOLDERS EQUITY (Details Na

SHAREHOLDERS EQUITY (Details Narrative) - USD ($)			1 Months Ended		3 Months Ended				4 Months Ended	9 Months Ended
	Mar. 02, 2022	Jan. 08, 2021	Feb. 19, 2022	Nov. 24, 2020	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	May 13, 2019	Dec. 05, 2019	Sep. 30, 2022	Sep. 30, 2021	Apr. 14, 2022	Apr. 01, 2022	Mar. 08, 2022	Mar. 01, 2022	Dec. 31, 2021	Mar. 31, 2021
Stock Issued During Period, Value, New Issues						$ 50,000
Preferred Stock, Shares Authorized					10,000,000					10,000,000						10,000,000
Accrued Liability																	$ 1,443
Nonaffiliate Stockholder
Share Price		$ 0.95	$ 1	$ 0.95											$ 1.50
Stock Repurchased During Period, Shares	100,000	36,000		36,000
Stock Repurchased During Period, Amount	$ 150,000	$ 34,200		$ 34,200
Option To Purchase Shares Of Unregistered Common Stock			500,000
Shares Transferred, Immediately Cancelled														100,000
Series B Preferred Stock
Share Price					$ 9					$ 9
Preferred Stock, Shares Authorized					5,000,000					5,000,000
Preferred Stock Terms Of Conversion										As of September 30, 2022, 60,000 shares of Series B Preferred Stock have been converted into a total of 60,000 shares of common stock of the Company, which leaves 40,000 shares of Series B Preferred Stock currently outstanding, convertible into 40,000 shares of common stock of the Company.
Accrued Liability					$ 1,783					$ 1,783						$ 1,796
Dividends, Cash					$ 4,500		$ 4,500			$ 4,500	$ 10,344
Series A Preferred Stock [Member]
Share Price					$ 5					$ 5
Preferred Stock, Shares Authorized					400,000					400,000
Preferred Stock, Voting Rights										As of June 30, 2022, 60,000 shares of Series B Preferred Stock have been converted into a total of 60,000 shares of common stock of the Company, which leaves 40,000 shares of Series B Preferred Stock currently outstanding.
Preferred Stock Terms Of Conversion										As of September 30, 2022, 61,650 shares of Series A Preferred Stock have been converted into a total of 6,165,000 shares of common stock of the Company, which leaves 4,500 shares of Series A Preferred Stock currently outstanding, convertible into 450,000 shares of common stock of the Company.
Accrued Liability					$ 5,838					$ 5,838						$ 11,926
Dividends, Cash					$ 0		$ 0			$ 17,147	$ 199,187
Accredited Investors | Series B Preferred Stock
Annual Dividend Percentage									3%	30%
Share Price					$ 7					$ 7
Stock Issued During Period, Shares, New Issues									100,000
Stock Issued During Period, Value, New Issues									$ 500,000
Number Of Preffered Stock Converted Into Common Stock									100,000
Unregistered common stock												25,000	100,000
Convertible Preferred Stock, Shares Reserved For Future Issuance												250	1,000
Accredited Investors | Series A Preferred Stock [Member]
Annual Dividend Percentage								3%		30%
Share Price					$ 3					$ 3
Stock Issued During Period, Shares, New Issues								66,150
Stock Issued During Period, Value, New Issues								$ 6,615,000
Number Of Preffered Stock Converted Into Common Stock								66,150
Convertible Preferred Stock, Shares Reserved For Future Issuance								6,615,000
Debt Instrument, Convertible, Conversion Price								$ 1

CONTINGENT CONTRACTUAL OBLIGA_3

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Schedule of Operating Lease Assets and Liabilities (Details) - USD ($)	12 Months Ended
	Jun. 30, 2027	Dec. 31, 2026	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details Narrative)
Base Monthly Rent	$ 6,063	$ 4,502	$ 5,915	$ 4,370	$ 5,771	$ 4,243	$ 2,541	$ 5,630	$ 4,120	$ 2,467	$ 5,493	$ 4,000	$ 2,395

CONTINGENT CONTRACTUAL OBLIGA_4

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Schedule of Operating Lease Assets and Liabilities (Details 1) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details Narrative)
Operating Lease Right Of Use Asset	$ 525,942	$ 76,412
Operating Lease Liability Current	115,010	26,047
Operating Lease Liability Noncurrent	414,875	50,583
Finance Lease Right Of Use Asset	1,285,200	1,227,532
Finance Lease Liability Current	(26,079)
Finance Lease Liability	$ 1,376,439	$ 0

CONTINGENT CONTRACTUAL OBLIGA_5

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Schedule of Operating Lease Assets and Liabilities (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details Narrative)
Amortization Of Right Of Use Assets	$ 10,800	$ 12,337	$ 35,473	$ 37,010
Interest On Lease Liabilities	23,924	13,188	46,445	39,673
Operating lease expense	20,147	0	60,442	8,000
Finance Lease Expense	$ 54,871	$ 25,525	$ 142,360	$ 84,683

CONTINGENT CONTRACTUAL OBLIGA_6

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Schedule of Operating Lease Assets and Liabilities (Details 3)	Sep. 30, 2022 USD ($)
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details Narrative)
Finance Lease Liability Payments Due Year Two	$ 35,133
Finance Lease Liability Payments Due Year Three	1,445,970
Finance Lease Liability Payments Due Year Four	0
Finance Lease Liability Payments Due Year Five	0
Finance Lease Liability Payments Due Next Six Months	0
Finance lease liability payments due after year five	0
Finance Lease Liability Payments Due	1,481,103
Finance Lease Liability Discount Excess Amount	(138,730)
Finance Lease Liability	1,342,373
Lessee Operating Lease Liability Payments Due Year Two	55,070
Lessee Operating Lease Liability Payments Due Year Three	146,018
Lessee Operating Lease Liability Payments Due Year Four	142,211
Lessee Operating Lease Liability Payments Due Year Five	122,573
Lessee Operating Lease Liability Payments Due Next Six Months	125,903
Operating Lease Liability Payments Due After Year Five	36,381
Lessee Operating Lease Liability Paymentsdue	628,156
Lessee Operating Lease Liability Discounted Excess Amount	98,271
Operating Lease Liability	$ 529,885

CONTINGENT CONTRACTUAL OBLIGA_7

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details Narrative)	Jul. 06, 2022 USD ($)	Sep. 30, 2022 USD ($) shares	Jul. 01, 2022 USD ($)	Feb. 14, 2022 USD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)	Oct. 01, 2021 USD ($)	Jul. 01, 2021 USD ($)	Jan. 01, 2021 USD ($)
Shares Of Common Stock | shares		3,900,455
Increase In Base Rent (percentage)		2%					3%
Premises Rent, Per Square		6.13	10.75		6		5.75
Base Rent, Amount									$ 68,888
Fixed Purchase Price						$ 1,375,000
Immaterial Loss On Lease Modification						1,446
Sublease costs	$ 3,000
Bonus Payable		$ 2,121,532		$ 1,556,055		$ 1,556,055
Chief Strategy Officer [Member]
Bonus Equal								5%
Bonus Payable		$ 261,864
Net Sales								$ 6,000,000
Salary								$ 180,000

LEGAL PROCEEDINGS (Details Narr

LEGAL PROCEEDINGS (Details Narrative) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Lifted Liquids, Inc. [Member]
Agreement releases and dismissal		$ 36,100
Saul Roffe [Member]
Settlement Cost		30,000
Lifted Liquids		15,000
Damage Recover		14,569
Martha Edgar V Lifted Liquids [Member]
Settlement Cost		5,000	$ 5,000
Awawdeh And Habib [Member]
Settlement Cost		$ 98,000
Dev Distribution LLC V Lifted Liquids [Member] | Subsequent Event [Member]
Amount paid for undelivered products	$ 263,938

COMPANY WIDE MANAGEMENT BONUS_2

COMPANY WIDE MANAGEMENT BONUS POOL (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2022	Feb. 14, 2022	Dec. 31, 2021
COMPANY WIDE MANAGEMENT BONUS POOL (Details Narrative)
Annual Bonus	$ 1,559,334
Bonus Payable	$ 2,121,532	$ 1,556,055	$ 1,556,055
Diluted Earnings Per Share	$ 0.56

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Current
Domestic-federal	$ 584,994	$ 0	$ 1,970,372	$ 0
Domestic-state	165,096	0	822,289	0
Texas Franchise Tax	838		57,366
Foreign	0	0	0	0
Total	750,929	0	2,850,027	0
Deferred
Domestic-federal	(555,760)	0	(253,605)
Domestic-state	(171,142)	0	(81,696)	0
Foreign	0	0	0	0
Total	(726,902)	0	(335,301)	0
Total Provision (benefit) For Income Taxes	$ 24,027	$ 0	$ 2,514,726	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
INCOME TAXES
Domestic Federal	$ 103,010	$ 469,597	$ 1,911,512	$ 934,645
State Tax Benefit, Net Of Federal Benefit	(38,623)	135,138	582,681	268,966
Non-deductible Expenses	13,941	2,334	20,522	7,825
Texas franchise tax	838	0	57,366	0
Revision of prior years' deferred tax assets	(72,471)	0	(72,471)	0
Change In Estimated Future Income Tax Rates	94,839	0	(37,079)	0
Change In Valuation Allowance	(79,303)	(607,069)	38,257	(1,211,436)
Other	1,796	0	13,939	0
Total Provision (benefit) For Income TaxesEF	$ 24,027	$ 0	$ 2,514,726	$ 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Deferred Tax Assets
Sales allowances	$ 230,519	$ 0
Spoiles and written off inventory	634,040	0
Stock-based Compensation	2,752,667	2,714,410
Accrued Related Party Expenses	4,412	259,463
Impairment Of Smplylifted Note And Other Receivables	0	105,124
Allowance For Doubtful Accounts	40,838	64,661
Other	17,867	8,725
Less: Valuation Allowance	(2,752,667)	(2,714,410)
Total Deferred Tax Asset	927,676	437,973
Deferred Tax Liabilities:
Depreciation & Amortization	(260,824)	(105,143)
Other	0	(1,279)
Total Deferred Tax Liabilities	(260,824)	(106,422)
Net Deferred Tax (Liabilities) Assets	$ 666,852	$ 331,551

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	1 Months Ended
	Dec. 22, 2017
INCOME TAXES
Federal Dividends	100%

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)		1 Months Ended
	Jul. 06, 2022	Oct. 31, 2022
Dev Distribution LLC V Lifted Liquids [Member] | Subsequent Event [Member]
Amount paid for undelivered products		$ 263,938
LFTD PARTNERS INC [Member]
Sublease costs	$ 3,000