LFTD Partners (LIFD) 10-Q 14 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 13, 2024
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	Mar. 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		14,822,678
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 ($)	Mar. 31, 2024	Dec. 31, 2023
Current Assets
Cash and Cash Equivalents	$ 4,376,185	$ 4,357,539
Prepaid Expenses	1,340,206	2,509,961
Accounts Receivable, net of allowance of $650,695 in 2024 and $375,417 in 2023	3,901,279	3,586,176
Inventory	7,659,443	10,174,667
Income Tax Receivable	680,367	659,376
Current Portion of Settlement Asset and Receivables	480,698	378,597
Other Current Assets	27,120	2,664
Total Current Assets	18,465,296	21,668,980
Restricted Cash	1,000,000	1,000,000
Goodwill	23,092,794	23,092,794
Investment in Ablis	399,200	399,200
Investment in Bendistillery and Bend Spirits	1,497,000	1,497,000
Net Deferred Tax Asset	375,466	0
Fixed Assets, less accumulated depreciation of $701,058 in 2024 and $593,531 in 2023	2,888,511	2,996,387
Security and State Licensing Deposits and Bonds	48,471	43,421
Operating Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $307,678 in 2024 and $266,837 in 2023	586,027	626,869
Non-Current Portion of Settlement Asset and Receivables	17,000	22,000
Total Assets	48,369,765	51,346,651
Current Liabilities
Operating Lease Liability	165,727	169,437
Deferred Revenue	853,202	235,891
Minimum Earnout Consideration to be paid pursuant to the Oculus Merger Agreement ($200,000 in cash, and $800,000 in the form of 160,000 shares of common stock valued at $5.00 per share)	1,000,000	1,000,000
Collab Commissions and Royalties Payable	38,227	572,838
Accounts Payable and Accrued Expenses	4,450,754	6,172,655
Accounts Payable - Related Party	1,804	3,938
Preferred Stock Dividends Payable	7,482	7,124
Notes Payable to Surety Bank	519,529	506,061
Interest Payable to Surety Bank	18,204	18,800
Total Current Liabilities	7,054,927	8,686,744
Non-Current Liabilities
Operating Lease Liability	428,246	463,623
Net Deferred Tax Liability	0	29,482
Notes Payable to Surety Bank	3,212,943	3,348,790
Total Non-Current Liabilities	3,641,189	3,841,896
Total Liabilities	10,696,116	12,528,640
Commitments and Contingencies	0	0
Shareholders' Equity
Common Stock, $0.001 par value; 100,000,000 shares authorized, and: 14,805,678 shares issued and outstanding at March 31, 2024 14,805,678 shares issued and outstanding at December 31, 2023	14,806	14,806
Additional Paid-in Capital	40,429,213	40,429,213
142,000 shares of Deferred Contingent Stock issuable upon instruction by the respective Deferred Contingent Stock Recipients at March 31, 2024 and December 31, 2023	470,730	470,730
Accumulated Deficit	(3,241,142)	(2,096,780)
Total Shareholders' Equity	37,673,649	38,818,011
Total Liabilities and Shareholders' Equity	48,369,765	51,346,651
Series A Convertible Preferred Stock Member
Shareholders' Equity
Preferred Stock, value	3	3
Series B Convertible Preferred Stock Member
Shareholders' Equity
Preferred Stock, value	$ 40	$ 40

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Accounts Receivable, allowance	$ 650,695	$ 375,417
Minimum Earnout Consideration in Cash	200,000
Minimum Earnout Consideration in Kind	$ 800,000
Minimum Earnout Consideration in Shares	160,000
Minimum Earnout Consideration Per Share Amount	$ 5
Accumulated depreciation	$ 701,058	593,531
Operating Lease Right-of-Use Asset Amortization	$ 307,678	$ 266,837
Preferred Stock, shares authorized	10,000,000	10,000,000
Common Stock, par or stated value	$ 0.001	$ 0.001
Common Stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	14,805,678	14,805,678
Common Stock, shares outstanding	14,805,678	14,805,678
Deferred Contingent Stock	$ 142,000	$ 142,000
Series A Convertible Preferred Stock Member
Preferred Stock, par or stated value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	400,000	400,000
Preferred Stock, shares issued	2,500	2,500
Preferred Stock, shares outstanding	2,500	2,500
Series B Convertible Preferred Stock Member
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 (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Net Sales	$ 10,666,649	$ 12,461,793
Cost of Goods Sold	7,282,609	6,813,348
Gross Profit	3,384,040	5,648,445
Operating Expenses
Payroll Expenses	1,602,078	1,874,498
Deferred Contingent Stock Expense	0	2,138,175
Company-Wide Management Bonus Pool	0	233,332
Professional Fees	389,338	348,816
Bank Charges and Merchant Fees	159,138	136,819
Advertising and Marketing	176,660	228,571
Bad Debt Expense	275,278	143,519
Depreciation and Amortization	48,798	38,133
Collab Commission and Royalty Expense	170,915	0
Other Operating Expenses	684,169	611,466
Total Operating Expenses	3,506,374	5,753,329
Income/(Loss) From Operations	(122,334)	(104,884)
Other Income/(Expenses)
Interest Expense	(92,850)	(24,187)
Debt Financing Expenses	(2,773)	0
Dividend Income	1,193	0
Penalties	(133)	(261)
Loss on Disposal of Fixed Assets	(13,946)	0
Loss on Jeeter Collab	(1,349,467)	0
Interest Income	41,354	14,812
Total Other Expenses	(1,416,622)	(9,636)
Loss Before Provision for Income Taxes	(1,538,956)	(114,520)
Provision for Income Taxes	397,952	(27,222)
Net Loss Attributable to LFTD Partners Inc. common stockholders	$ (1,141,004)	$ (141,742)
Basic Net Loss per Common Share	$ (0.08)	$ (0.01)
Diluted Net Loss per Common Share	$ (0.08)	$ (0.01)
Weighted average number of common shares outstanding:
Basic	14,805,678	14,246,745
Diluted	14,805,678	14,246,745

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Deferred Contingent Stock	Accumulated Deficit
Balance, shares at Dec. 31, 2022		44,500	14,102,578
Balance, amount at Dec. 31, 2022	$ 34,537,671	$ 45	$ 14,103	$ 38,762,260	$ 0	$ (4,238,735)
Issuance of 410,000 of the total 645,000 shares of Deferred Contingent Stock related to the acquisition of Lifted, of which shares began being issued on February 24, 2023 upon direction by the Deferred Contingent Stock Recipients, shares			410,000
Issuance of 410,000 of the total 645,000 shares of Deferred Contingent Stock related to the acquisition of Lifted, of which shares began being issued on February 24, 2023 upon direction by the Deferred Contingent Stock Recipients, amount	2,138,175		$ 410	1,358,740	779,025
Series A Preferred Stock dividend payable	(3,329)					(3,329)
Series B Preferred Stock dividend payable	(1,480)					(1,480)
Net Loss	(141,742)					(141,742)
Balance, shares at Mar. 31, 2023		44,500	14,512,578
Balance, amount at Mar. 31, 2023	36,529,296	$ 45	$ 14,513	40,121,000	779,025	(4,385,286)
Balance, shares at Dec. 31, 2023		42,500	14,805,678
Balance, amount at Dec. 31, 2023	38,818,011	$ 43	$ 14,806	40,429,213	470,730	(2,096,780)
Series A Preferred Stock dividend payable	(1,862)					(1,862)
Series B Preferred Stock dividend payable	(1,496)					(1,496)
Net Loss	(1,141,004)					(1,141,004)
Balance, shares at Mar. 31, 2024		42,500	14,805,678
Balance, amount at Mar. 31, 2024	$ 37,673,649	$ 43	$ 14,806	$ 40,429,213	$ 470,730	$ (3,241,142)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows From Operating Activities
Net Loss	$ (1,141,004)	$ (141,742)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities
Deferred Contingent Stock Compensation Expense	0	2,138,175
Bad Debt Expense	275,278	143,519
Depreciation and Amortization	125,765	77,843
Debt Financing Expenses	2,773	0
Loss on Disposal of Fixed Assets	13,946	0
Loss on Jeeter Collab	1,349,467	0
Spoiled and Written Off Inventory	398,815	131,967
Sales Allowances	(290,284)	(94,751)
Deferred Income Taxes	(404,948)	(149,976)
Effect on Cash of Changes in Operating Assets and Liabilities
Accounts Receivable	(300,097)	22,190
Prepaid Expenses	942,995	303,903
Income Tax Receivable and Payable	(20,990)	167,317
Inventory	256,629	(1,671,501)
Other Current Assets	(29,506)	29,745
Collab Commissions and Royalties Payable	(110,138)	0
Trade Accounts Payable and Accrued Expenses	(1,722,498)	(589,531)
Accounts Payable and Interest Payable to Related Parties	(2,135)	(1,254)
Change in Settlement Asset and Receivables	215,499	46,256
Change in Right Of Use Asset	40,841	35,796
Change in Finance and Operating Lease Liabilities	(39,087)	(6,564)
Deferred Revenue	617,311	(112,187)
Net Cash Provided by Operating Activities	178,633	329,205
Cash Flows From Investing Activities
Net Purchases of Fixed Assets	(31,835)	(368,785)
Net Cash Used in Investing Activities	(31,835)	(368,785)
Cash Flows From Financing Activities
Payments on Surety Bank Loans	(125,152)	0
Payments of Dividends to Preferred Stockholders	(3,000)	(3,000)
Payments on Finance Lease Liability	0	(17,918)
Net Cash Used In Financing Activities	(128,152)	(20,918)
Net Increase/(Decrease) in Cash	18,646	(60,498)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	5,357,539	3,530,623
Cash, Cash Equivalents and Restricted Cash at End of Period	5,376,185	3,470,125
Supplemental Cash Flow Information
Cash Paid For Interest	93,446	24,187
Cash Paid For Income Taxes	20,991	390
Non-Cash Activities
Right-of-Use assets acquired from inception of Operating Leases	0	180,639
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Balance Sheets
Cash and Cash Equivalents	4,376,185	3,470,125
Restricted Cash	1,000,000	0
Total Cash, Cash Equivalents and Restricted Cash at End of Period	$ 5,376,185	$ 3,470,125

DESCRIPTION OF THE BUSINESS OF

DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC	3 Months Ended
	Mar. 31, 2024
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. LFTD Partners Inc. (hereinafter sometimes referred to as “LFTD Partners”, the “Company”, “LIFD”, the “Company”, “we”, “us”, “our”, etc.) was organized under the laws of the State of Nevada on January 2, 1986. Shares of the Company’s common stock are traded on the OTCQB Venture Market under the trading symbol LIFD. 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 directly or indirectly involved in the development, manufacture and/or sale or re-sale of a wide variety of branded, hemp-derived, psychoactive and alternative lifestyle products, and of products involving, nicotine, tobacco and marijuana. We are primarily interested in acquiring rapidly growing, profitable companies that are also involved in the manufacture and sale of branded, hemp-derived, psychoactive and alternative lifestyle products (a “Canna-Infused Products Company”). Management of the Company is open-minded to the concept of also acquiring operating businesses and/or assets directly or indirectly involving products containing nicotine, tobacco, marijuana, distilled spirits, beer, wine, and/or real estate. In addition, management of the Company is open-minded to the concept of diversifying, by acquiring all or a portion of one or more operating businesses and/or assets that are considered to be “essential” businesses that are outside our industry and that are unlikely to be shut down by the government during pandemics such as COVID-19, or that have less regulatory risk than a Canna-Infused Products Company. Lifted Made 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 and d/b/a Urb Finest Flowers (www.urb.shop), Kenosha, Wisconsin (“Lifted Made” or “Lifted”). Lifted manufactures and sells hemp-derived and psychoactive products under its award-winning Urb Finest Flowers (“Urb”) brand. Products currently sold by Lifted include, for example: disposable vapes and cartridges, gummies, joints, blunts, and products containing ingredients such as kanna, muscimol, ashwagandha and kava. Lifted is the worldwide, exclusive manufacturer and seller of Diamond Supply Co. (www.DiamondSupplyCo.com) and Cali Sweets hemp-derived products. Ablis, Bendistillery and Bend Spirits 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.Ablis.shop), and of distilled spirits manufacturers Bendistillery Inc. d/b/a Crater Lake Spirits (“Bendistillery”) (www.CraterLakeSpirits.com) and Bend Spirits, Inc. (“Bend Spirits”), all located in Bend, Oregon. Ablis manufactures and sells flavored, lightly carbonated, canned, CBD-infused beverages, “functails” – a term coined by Ablis and which means a beverage crafted with high-quality functional ingredients, CBD-infused muscle rub, among other products. Bendistillery manufactures and sells straight and flavored vodka and gin and various types of whiskey under its brand Crater Lake Spirits. Bank Financing and Purchase of Headquarters Building On December 14, 2023, LFTD Partners and Lifted (together the “Borrower”), jointly borrowed a total of $3,910,000 from Surety Bank, of DeLand, Florida (“Lender”). The Lender made two five-year loans to the Borrower, as joint borrowers: (1) a working capital loan of $3,000,000 at 9.5% fixed annual interest, and (2) a $910,000 loan at 10% fixed annual interest, the net proceeds of which were used by Lifted to pay a portion of the $1,375,000 purchase price of Lifted’s main operations building located at 5511 95th Avenue, Kenosha, Wisconsin (“5511 Building”). The two loans are cross collateralized by a first lien mortgage on the 5511 Building, and by a first lien security interest in all of the other assets owned by LIFD and Lifted, in favor of Surety Bank. Purchase of the 5511 Building Toward the end of 2020, our Vice Chairman and Chief Operating Officer Nicholas S. Warrender (“NWarrender”), through his assigned entity 95th Holdings, LLC (“Holdings”), purchased the 5511 Building, which 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 Holdings, 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 valuation based on a formula agreed upon by the parties. Pursuant to an agreement with NWarrender 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, which was entered into by the Company with NWarrender on July 5, 2022, 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 was extended by one year to December 31, 2023. Lifted purchased the 5511 Building from Holdings on December 14, 2023 for the agreed upon purchase price of $1,375,000 in cash. Improvements to and Potential Expansion of the 5511 Building Due to an extreme need for additional employee parking spots at the 5511 Building, the Company in the fourth quarter of 2022 built a parking lot at the 5511 Building for $193,216, which is accounted for as a building improvement (a capitalized fixed asset). The investment in this necessary parking lot had no impact on the $1,375,000 purchase price that Lifted had committed to pay for, and did pay for, the 5511 Building on December 14, 2023. The Company desires to have all of its operations under one roof at the 5511 Building in order to become more efficient. The Company has hired and paid an architectural and construction company (the “Construction Company”) which has created a preliminary design for expanding the 5511 Building by approximately 30,000 square feet. The Construction Company has provided a preliminary estimate that the potential expansion could cost the Company approximately $3,500,000. Neither the management nor the Board of Directors of the Company has committed to such potential expansion, but it is under active consideration. $3,000,000 Working Capital Loan Credit Agreement Pursuant to the Credit Agreement dated as of December 14, 2023 (the “Credit Agreement”), among the Borrower and the Lender, the Lender agreed to loan to the Borrower $3,000,000 (“Working Capital Loan”). The interest rate for the Working Capital Loan is a fixed annual interest rate of 9.5%. The Credit Agreement requires a Promissory Note and Security Agreement. The Credit Agreement requires a prepayment fee if the Working Capital Loan is repaid to the Lender in less than three years, in the amount of 3% of the Working Capital Loan if the loan is repaid in Year-1, 2% of the Working Capital Loan if the Working Capital Loan is repaid in Year-2, and 1% if the Working Capital Loan is repaid in Year-3. The Credit Agreement is also subject to certain negative covenants in which the Borrower agreed (subject to certain exceptions) not to, among other things: · Become subject to other liens or encumbrances; · Change ownership of Lifted without the consent of the Lender; · Enter into a merger, acquisition or divestiture; · Conduct stock buybacks; · Serve as a guarantor; · Wind up, liquidate or dissolve; · Enter into the purchase, sale, exchange or transfer of property; · Permit the outstanding principal balance of the Working Capital Loan to exceed 40% of the fair market value of the collateral securing the Working Capital Loan; or · Directly or indirectly issue, assume or create any additional indebtedness on the collateral. Promissory Note Pursuant to the Promissory Note dated as of December 14, 2023 (the “WC Note”), among the Borrower and the Lender, the Lender agreed to loan to the Borrower the Working Capital Loan at a fixed annual interest rate of 9.5%. The WC Note also requires a 5% late fee on outstanding unpaid payments due under the WC Note where payments are not made within 10 days of the due date. The WC Note has cross-default cross-collateralized provisions with the $910,000 Business Loan described below. Security Agreement Pursuant to a Security Agreement dated as of December 14, 2023 (“Security Agreement”), the Borrower granted to the Lender a security interest in all the Borrower’s personal property relating to its business to secure the obligations of the Borrower under the Credit Agreement. The collateral that is secured by the Security Agreement includes all the Borrower’s accounts, general intangibles, inventory, equipment, goods, deposit accounts, contractual rights, fixtures, money, insurance and commercial tort claims. If an event of default under the Credit Agreement occurs, then the Lender may exercise the Borrower’s rights in the collateral. In that event, the Lender will have all the rights of a secured party with respect to the collateral under the Uniform Commercial Code, including, among other things, the right to sell the collateral at public or private sale. Collateral Assignment Agreement Under the Collateral Assignment Agreement dated as of December 14, 2023, between the Borrower and the Lender, the Borrower assigned to the Lender, in connection with the terms of the Credit Agreement, all of Borrower’s “intellectual property”, including but not limited to, all patents, patent rights, trademarks and service marks, works, inventions, copyrights, trade names, software and computer programs, trade secrets, methods, processes, know how, drawings, and specifications. In the event of default under the Credit Agreement or WC Note, or other cross collateralized obligations, the Lender would be entitled to the foregoing intellectual property collateral to the detriment of the Borrower. Pledge Agreement Under the Pledge Agreement dated as of December 14, 2023, between the Borrower and $910,000 Loan Business Loan Agreement Pursuant to the Business Loan Agreement dated as of December 14, 2023 (the “Loan Agreement”), among the Borrower and the Lender, the Lender agreed to loan $910,000 (the “Business Loan”) to the Borrower. The Business Loan requires that Borrower shall maintain a minimum 1.50x Debt Service Coverage Ratio (DSCR) based on Borrower tax returns. The DSCR shall be tested annually, beginning with the 2023 return. The DSCR shall be calculated as EBIDA (earnings before interest, depreciation, and amortization) divided by contractual annual debt service payments. The Business Loan also requires Borrower to maintain its primary operating accounts with a $1,000,000.00 minimum deposit account balance with the Lender for the life of the Business Loan. The Business Loan also requires a Promissory Note, Mortgage and Assignment of Rents, Leases, and Security Deposits described below. Promissory Note Pursuant to the Promissory Note dated as of December 14, 2023 (the “BL Note”), among the Borrower and the Lender, the Lender agreed to loan to the Borrower the Business Loan at a fixed annual interest rate of 10%. The BL Note also requires a 5% late fee on outstanding unpaid payments due under the BL Note. The BL Note requires a mortgage on the 5511 Building, along with a first priority security interest on: all furniture, equipment, inventory, and general intangibles (including but not limited to all software and all payment intangibles); all fixtures; and all attachments, accessions, accessories, fittings, increases, tools, parts, repairs, supplies, and commingled goods. Mortgage Pursuant to the Mortgage dated as of December 14, 2023 (the “Mortgage”), among Lifted in favor of the Lender, in connection with the terms of the Loan Agreement and BL Note, Lifted agreed to a first priority mortgage on the 5511 Building (Parcel Number 08-222-32-410-104). In the event of default under the Loan Agreement or BL Note, or other cross collateralized obligations, the Lender would be entitled to the foregoing equity collateral to the detriment of the Borrower. Assignment of Rents, Leases, and Security Deposits Pursuant to the Assignment of Rents, Leases, and Security Deposits dated as of December 14, 2023 (the “Lease Assignment”), among Lifted in favor of the Lender, in connection with the terms of the Loan Agreement and BL Note, Lifted agreed to assign its rights to leases and income from the 5511 Building to Lender. In the event of default under the Loan Agreement or BL Note, or other cross collateralized obligations, the Lender would be entitled to the foregoing equity collateral to the detriment of the Borrower. Default under any of the agreements described above could have a highly detrimental, if not catastrophic impact on our company. Consolidated Balance Sheet Presentation of the Working Capital and Business Loans and Maturity Analysis The following presents the Working Capital and Business Loans in the Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Working Capital Loan $ 2,881,479 $ 3,000,000 Business Loan 903,370 910,000 Total principal amount 3,784,849 3,910,000 Less: Unamortized debt financing costs (52,376 ) (55,149 ) Less: Current portion of Surety Bank notes (519,529 ) (506,061 ) Non-Current portion of Surety Bank notes $ 3,212,943 $ 3,348,790 The following represents aggregate payments due on the Working Capital and Business Loans during each of the five years subsequent to March 31, 2024 and thereafter: Maturity Analysis as of March 31, 2024: 2024 $ 657,704 2025 876,939 2026 876,939 2027 876,939 2028 1,618,429 Thereafter - Total 4,906,951 Less: Interest portion (1,122,102 ) Total principal amount $ 3,784,849 Manufacturing, Sales and Marketing Agreements During the year ended December 31, 2023 Lifted entered into Manufacturing, Sales and Marketing Agreements with Cali Sweets, LLC (“Cali”), Diamond Supply Co. (“Diamond”), and DreamFields Brands Inc. d/b/a Jeeter (“Jeeter”) (collectively, “Agreements”). The terms of these Agreements are described below. The aggregate net revenue related to these Agreements for the quarter ended March 31, 2024 was $502,054. Cali Sweets Agreement On January 11, 2023, Lifted entered into a Manufacturing, Sales and Marketing Agreement (“Cali Agreement”) with Cali Sweets, LLC (“Cali”). Cali is headquartered in North Hollywood, California, and currently sells products under the brand name Koko Nuggz. The Cali Agreement entitles Lifted to be the exclusive worldwide manufacturer and distributor of Cali’s disposable vape products (under the brand name Koko Puffz) and gummy products (under the brand name Koko Yummiez) (“Cali Products”). Pursuant to the Cali Agreement, Lifted manufactures, markets, and distributes certain Cali Products and brands worldwide. Lifted and Cali equally share certain production and marketing costs associated with such Cali Products on a dollar-for-dollar basis. Revenue from the sale of such Cali Products are divided on a 60/40 basis, net of any returns, discounts, or replacements, with 60% allocated to Lifted, and the remaining 40% to Cali. Under the terms of the Cali Agreement, Lifted has the right, in its discretion, to add new Cali brands and Cali Products as they are developed. Lifted can also set prices for Cali Products it supplies or unilaterally discontinue the supply of any Cali product if it no longer makes business sense to Lifted. The parties also agreed that Cali will provide social media marketing services for both Cali Products and brands, and for Lifted’s Urb branded products. The term of the Cali Agreement is five years and may be extended with the mutual consent of the parties. However, after the initial 24 months, the Cali Agreement may be terminated by either party, for any or no reason, upon providing the other party with 180 days written notice. Cali may become subject to early exit payments to Lifted if it early terminates. The exit fee formula is based on estimated profits that Lifted may have enjoyed had Cali not early terminated the relationship. Accounting for the Cali Agreement Regarding the accounting for the Cali Agreement: the Company has evaluated the principal versus agent considerations in Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. The Company has considered the following facts to assess whether Lifted has control of the Cali Products that are manufactured and distributed pursuant to the Cali Agreement: · Lifted is the exclusive worldwide manufacturer and distributor of the Cali Products. To fulfill its obligations pursuant to the Cali Agreement, Lifted sources raw goods, labor, and other resources to manufacture the Cali Products at Lifted’s facilities and holds these raw goods and Cali Products in its facilities until the Cali Products are sold and shipped to customers. · Customers’ orders of Cali Products are received through Lifted’s website www.urb.shop. Lifted processes these orders, prepares the Cali Products for shipment from Lifted’s inventories, and ships the Cali Products directly to the customers. Lifted is responsible for collecting payments from customers but does not guarantee collection. · Lifted has the right, in its discretion, to add new Cali brands and Cali Products as they are developed. · Lifted can set prices for Cali Products it supplies or unilaterally discontinue the supply of any Cali product if it no longer makes business sense to Lifted. Based on these considerations, the Company concludes that Lifted is the principal relative to Cali in the Cali Agreement. Therefore, sales of Cali Products are recognized and reported by the Company on a gross basis on the Consolidated Statements of Operations, and once payment is collected from a customer from the sale of Cali Products, the Commission Payable to Cali is reported as a current liability on the Company’s Consolidated Balance Sheets, and Commission Expense is reported in the Operating Expenses section of the Consolidated Statements of Operations. Manufacturing, Sales and Marketing Agreement With Diamond Supply Co. On April 23, 2023, Lifted entered into a Manufacturing, Sales and Marketing Agreement (“Diamond Agreement”) with Diamond Supply Co. (“Diamond”), Calabasas, California. Founded in 1998, Diamond develops and sells a full range of skateboard hard and soft goods including bolts, bearings, t-shirts, hoodies, and other skateboarding and streetwear accessories. The Diamond Agreement entitles Lifted to be the exclusive worldwide manufacturer and distributor of Diamond’s disposable vapes, gummies, pre-rolled joints, and hard candies (“Diamond Products”). These Diamond Products may contain CBD, hemp, delta-8-THC, delta-10-THC, cannabis and/or cannabinoid derivatives and are to be branded under one or more of Diamond’s brands or marks. Lifted shall pay Diamond a royalty of twenty percent (20%) of Adjusted Gross Revenue (defined below) on the initial manufacturing run of each Diamond Product manufactured and sold by Lifted under the Diamond Agreement. The Diamond Agreement defines Adjusted Gross Revenue as revenue on the Diamond Product “less any sales taxes, actual returns, pre-approved discounts, replacements, refunds and credits for returns.” After the initial manufacturing run of a Diamond Product, Lifted shall pay Diamond a royalty of forty five percent (45%) of Adjusted Gross Revenue on subsequent manufacturing runs for that Diamond Product; however, under the terms of the Diamond Agreement, the parties will split manufacturing costs 50/50 for Diamond Products sold after each Diamond Product’s first manufacturing run. Alternatively, under the terms of the Diamond Agreement, Diamond is entitled to notify Lifted that it elects to be paid a flat 7% of Adjusted Gross Revenue on specific subsequent manufacturing runs without sharing in the manufacturing costs for that run. Diamond is also entitled to purchase Diamond Products produced under the Diamond Agreement from Lifted for direct sale on Diamond’s website and via certain other channels used by Diamond. Under the terms of the Diamond Agreement, Diamond’s cost for these Diamond Products acquired for direct sale is 30% below wholesale. Under the terms of the Diamond Agreement, the parties will work together to set prices for Diamond Products. The term of the Agreement is three years and may be extended with the mutual consent of the parties. However, the Diamond Agreement may be extended for one-year with notice by Diamond at least three months prior to the end of the 3-year term, or by mutual consent of the parties. If Lifted pays to Diamond aggregate annual royalty payments of at least $1,000,000 per year, then the Diamond Agreement shall automatically renew for an additional one-year term. Accounting for the Diamond Agreement Regarding the accounting for the Diamond Agreement: the Company has evaluated the principal versus agent considerations in ASC 606, Revenue from Contracts with Customers. The Company has considered the following facts to assess whether Lifted has control of the Diamond products that are manufactured and distributed pursuant to the Diamond Agreement: · Lifted is the exclusive worldwide manufacturer and distributor of the Diamond Products. To fulfill its obligations pursuant to the agreement, Lifted sources raw goods, labor, and other resources to manufacture the Diamond Products at its own facilities and holds these raw goods and Diamond Products in its facilities until the Diamond Products are sold and shipped to customers. · Customers’ orders of Diamond Products are received through Lifted’s website www.urb.shop. Customers that attempt to purchase the Diamond Products from www.diamondsupplyco.com are redirected to www.urb.shop. Lifted processes these orders, prepares the Diamond Products for shipment from Lifted’s inventories, and ships the Diamond Products directly to customers. · Lifted and Diamond agree upon the retail sales prices for the Diamond Products, and both Lifted and Diamond are to make good faith efforts to collect all payments in connection with each party’s sales of Diamond Products to all of its customers. Based on these considerations, the Company concludes that Lifted is the principal relative to Diamond in the Diamond Agreement. Therefore, sales of Diamond Products are recognized and reported by the Company on a gross basis on the Consolidated Statements of Operations, and once payment is collected from a customer from the sale of Diamond Products, the Royalty Payable to Diamond is reported as a current liability on the Company’s Consolidated Balance Sheets, and Royalty Expense is reported in the Operating Expenses section of the Consolidated Statements of Operations. Jeeter Agreement On July 17, 2023, Lifted and DreamFields Brands Inc. d/b/a Jeeter (“Jeeter”) entered a Manufacturing, Sales and Marketing Agreement dated as of July 14, 2023 (the “Jeeter Agreement”). Pursuant to the Jeeter Agreement: (1) Jeeter appointed Lifted as its exclusive manufacturer, seller and distributor within the United States of vape, gummies and pre-rolled products containing hemp-derived cannabinoids sold under the Jeeter brand (“Jeeter Products”); (2) Jeeter and Lifted agreed upon the devices, formulation, design, packaging, run costs, and marketing of each of the Jeeter Products; (3) Jeeter and Lifted shared equally the costs of manufacturing, marketing, distributing and insuring the Jeeter Products (“Product Costs”); and (4) the revenue from all Product sales, minus applicable Product offsets and sales commissions (“Aggregate Product Revenue”), were allocated 60% to Jeeter and 40% to Lifted. The Jeeter Agreement was for an Initial Term of two years, provided that if the completed Product sales during the first year of the Initial Term were a minimum of $48 million (the “Minimum Sales”), then the Initial Term was to automatically continue until the end of the second year of the Initial Term. Jeeter and Lifted could mutually agree in writing to extend the Jeeter Agreement for Renewal Terms of at least one year each, but if not so extended then the Jeeter Agreement was to automatically terminate. Jeeter could terminate the Jeeter Agreement at any time upon written notice to Lifted upon any of the following: (1) if Lifted failed to achieve the Minimum Sales during any 12 month period; (2) if there was any material change in federal legislation regarding the manufacturing, sale, use or consumption of hemp-derived delta-8-THC that in Jeeter’s sole and absolute determination had an adverse impact upon the Jeeter Agreement; or (3) if Jeeter determined in its sole and absolute discretion that the sale of Jeeter Products under the Jeeter Agreement had or was reasonably likely to have an adverse impact on Jeeter’s delta-9-THC product business. The Jeeter Agreement provided that if Aggregate Product Revenue achieves $1.5 million or more in a single month, then thereafter so long as Aggregate Product Revenue achieves $9 million or more in each six month period, Lifted was prohibited from directly or indirectly manufacturing, marketing, distributing, promoting or selling pre-rolled joints made from hemp or cannabis in the United States (except under the Jeeter Agreement) during the remaining term of the Jeeter Agreement. Accounting for the Jeeter Agreement Regarding the accounting for the Jeeter Agreement: the Company evaluated the principal versus agent considerations in ASC 606, Revenue from Contracts with Customers. The Company considered the following facts to assess whether Lifted had control of the Jeeter Products that are manufactured and distributed pursuant to the Jeeter Agreement: · Lifted was the exclusive manufacturer, seller, and distributor of the applicable Jeeter branded products in the USA. To fulfill its obligations pursuant to the agreement, Lifted sourced raw goods, labor, and other resources to manufacture the Jeeter Products at its own facilities and held these raw goods and Jeeter Products in its facilities until the Jeeter Products were sold and shipped to customers. Initially, Lifted was manufacturing all of the Jeeter Products, but in the middle of Q3 2023 Jeeter also began manufacturing joints at its facility after being authorized by Lifted to do so. Nonetheless, Jeeter produced joints during Monday through Friday, and then shipped the finished joints to Lifted’s headquarters in Kenosha on Saturday. Lifted controlled the Jeeter Products until they were then sold and shipped to the customers. · Customers’ orders of Jeeter Products were received through Lifted’s website www.urb.shop. Lifted processed these orders, prepared the Jeeter Products for shipment from Lifted’s inventories, and shipped the Jeeter Products directly to the customers. Lifted was responsible for collecting payments from customers but did not guarantee collection, nor the timetable of such collection. Based on these considerations, the Company concluded that Lifted was the principal relative to Jeeter in the Jeeter Agreement. Therefore, sales of Jeeter Products were recognized and reported by the Company on a gross basis on the Consolidated Statements of Operations, and once payment was collected from a customer from the sale of Jeeter Products, the Commission Payable to Jeeter was reported as a current liability on the Company’s Consolidated Balance Sheets, and Commission Expense was reported in the Operating Expenses section of the Consolidated Statements of Operations. Termination of the Jeeter Agreement The Jeeter Agreement was terminated effective January 1, 2024 pursuant to a Termination Agreement dated as of March 22, 2024 between Jeeter and Lifted. Pursuant to such Termination Agreement, among other things: Jeeter is obligated to pay Lifted $150,000 upon the signing of such Termination Agreement, and an additional $150,000 within 15 days following the signing of such Termination Agreement; and Jeeter shall arrange and pay for the shipment from Lifted to Jeeter of certain raw goods and finished goods associated with Jeeter branded products that are in Lifted's possession on the date of the signing of such Termination Agreement. As a result of the termination, Lifted transferred raw goods and finished goods inventories totaling $1,859,780 to Jeeter and recorded a loss on Jeeter collab in the Consolidated Statement of Operations of $1,349,467 for the three months ended March 31, 2024. Mirsky Agreement On July 11, 2023, Lifted and Florence Mirsky (“Mirsky”) entered into an Agreement (the “Mirsky Agreement”). Pursuant to the Mirsky Agreement, in consideration of Mirsky’s introduction of Jeeter to Lifted, Lifted shall pay to Mirsky finder’s fees equal to 6.5% of the amount, if any, by which Lifted’s share of the Aggregate Product Revenue under the Jeeter Agreement exceeds Lifted’s share of the Product Costs under the Jeeter Agreement. Lifted Purchase of Assets of Oculus CRS, LLC, and Merger With Oculus CHS Management Corp. Asset Purchase Agreement On April 28, 2023, Lifted purchased nearly all of the assets (the “Purchased Assets”) of its hemp flower products supplier Oculus CRS, LLC, Aztec, New Mexico (“Oculus”) for $342,068, net of $26,420 cash acquired. The Purchased Assets include, but are not limited to, Oculus’ operational equipment, office equipment, raw materials, inventory, cash on hand, accounts receivable, and a contract (the “Machine Purchase Contract”) to purchase, for a total of $309,213 (the “Machine Purchase Price”), a new machine that is ready for delivery, and that when delivered and installed will be used to automate a substantial portion of the manufacturing of the hemp flower products. $99,910 of the Machine Purchase Price had already been paid by Oculus, leaving $209,303 as the remaining portion of the Machine Purchase Price (the “Machine Purchase Final Payment”). The gross Purchase Price of $368,488 purchase was paid by Lifted using cash on hand. At the closing, Oculus applied the entire Purchase Price to pay off all of Oculus’ liabilities as of the closing date (the “Oculus Liabilities”), including the Machine Purchase Final Payment. The only asset of Oculus that was not included in the Purchased Assets was Oculus’ rights as the plaintiff in a pending lawsuit filed by Oculus against a particular customer for an alleged breach of contract. Agreement and Plan of Merger Simultaneously with Lifted’s purchase of the Purchased Assets, Lifted executed an Agreement and Plan of Merger (“Oculus Merger Agreement”) with Oculus CHS Management Corp. (the “Management Corp.”), pursuant to which the Management Corp. was merged with and into Lifted, with Lifted being the surviving corporation in the merger (the “Merger”). The only assets of the Management Corp. were multi-year employment contracts with the owners/managers of Oculus, Chase and Hagan Sanchez (the “Employment Agreements”). The Merger consideration (the “Merger Consideration”) will be paid by Lifted to Chase and Hagan Sanchez in two installments. The first installment of the Merger Consideration was paid by Lifted to Chase and Hagan Sanchez at the closing of the Merger, and consisted of 100 shares of unregistered common stock of LIFD. The second installment of the Merger Consideration will be paid by Lifted to Chase and Hagan Sanchez following the first anniversary of the closing of the Merger, which will be April 28, 2024. The second installment of the Oculus Merger Consideration will be calculated and paid out as follows: (1) Lifted’s CEO NWarrender, in consultation with LIFD’s President and CFO WJacobs, will analyze and make a written determination (the “Determination”) of the incremental pre-tax cash flow that NWarrender estimates that the hemp flower products division is generating for Lifted above and beyond the annual profits that are currently being generated for Lifted due to Lifted’s current business relationship with Oculus (the “Incremental Pre-Tax Profits”), after taking into account all relevant financial factors including but not limited to the purchase price of the Purchased Assets, the Merger Consideration, and all items of income, expense and investment directly and indirectly associated with Lifted’s hemp flower products division, which Determination will be final and legally binding on all of the parties; and (2) Within five days following delivery of the Determination, Lifted will pay Chase and Hagan Sanchez a second installment of Merger Consideration equal to five times the Incremental Pr

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
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 Restricted Cash Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value under US 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 – Accounting for Investments The Company’s Investment in Lifted Made The financial statements of LFTD Partners are consolidated with Lifted’s, since Lifted is a wholly owned subsidiary of LFTD Partners. The Company’s Investments in Ablis, Bendistillery and Bend Spirits The Company’s investments in Ablis Holding Company, Bendistillery Inc. and Bend Spirits, Inc. are recorded 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. The Company owns less than 20% of the equity ownership of each of these entities and has no substantial influence over the management of the businesses. In accordance with US GAAP, the Company does not consolidate its financial statements with those of Ablis Holding Company, Bendistillery Inc. and Bend Spirits, Inc. 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, if any. The qualitative assessments at the end of first, second and third quarters are done via conference calls with the management teams of Ablis, Bendistillery and Bend Spirits. The qualitative assessment at the end of the fourth quarter 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. The Company’s Investment in SmplyLifted On September 22, 2020, LFTD Partners Inc. and Lifted and privately held SMPLSTC, Costa Mesa, CA formed an equally-owned new entity called SmplyLifted LLC (“SmplyLifted”), which sold tobacco-free nicotine pouches under the brand name FR3SH. Lifted had a 50% membership interest in SmplyLifted. The other 50% of SmplyLifted was owned by SMPLSTC and its principals. 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. Prepaid Expenses Accounts Receivable The Company evaluates the collectability of its trade accounts receivable based on a number of factors. Management of the Company reviews and discusses all outstanding customer trade balances as of reporting period end. In circumstances where the Company becomes aware of a specific customer’s inability to meet its financial obligations to the Company, a specific reserve for bad debts is estimated and recorded (the “Allowance for Doubtful Accounts”), which reduces the recognized receivable to the estimated amount the Company believes will ultimately be collected. Management also considers industry-specific factors which may impact customers’ ability to meet their financial obligations to the Company. In addition to specific customer identification of potential bad debts, management takes into consideration Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses, which is codified as Accounting Standards Codification Topic 326, adds to US GAAP the current expected credit loss model (“CECL Model”), which is a measurement model based on expected losses rather than incurred losses. Under the CECL Model, an entity recognizes its estimate of expected losses as an allowance. The Company has considered the applicable guidance in ASU 2016-13. Key aspects of the CECL Model include the following: 1. The CECL Model applies to financing receivables measured at amortized cost, which includes trade accounts receivable. 2. An entity will recognize an allowance for credit losses that results in the financial statements reflecting the net amount expected to be collected from the financial asset. 3. The allowance represents the portion of the amortized cost basis that an entity does not expect to collect due to credit over the asset’s contractual life, considering past events, current conditions and reasonable and supportable forecasts of future economic conditions. In performing its CECL Model analysis, management calculates the ratio of write offs to sales made to wholesalers and distributors for the trailing three-year period (the “Bad Debt Loss Rate”). The Bad Debt Loss Rate is then multiplied by sales made to wholesalers and distributors during the trailing twelve months (the “Bad Debt Calc”). The Bad Debt Calc is compared to the total accounts receivable that is older than 90 days as of reported period end; for conservatism, whichever is larger is considered the Allowance for Doubtful Accounts as of reported period end. The Company’s position is that the Company’s conservative approach toward the treatment of Allowance for Doubtful Accounts provides sufficient coverage in relation to potential credit losses from outstanding invoice write-offs. Inventory March 31, 2024 December 31, 2023 Raw Goods $ 4,443,581 $ 4,962,652 Finished Goods $ 3,215,862 $ 5,212,015 Total Inventory $ 7,659,443 $ 10,174,667 The process of determining obsolete or spoiled inventory involves: 1) Identifying raw goods that would no longer be used in the manufacture of finished goods; 2) Identifying expired raw goods; 3) Identifying finished goods that would no longer be sold or that are slow moving; 4) Identifying finished goods that are expired; and 5) Valuing and expensing raw and finished goods that would no longer be sold. 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 March 31, 2024, $337,181 of overhead costs incurred during the first quarter of 2024 were allocated to finished goods. In comparison, at December 31, 2023, $338,582 of overhead costs incurred during the fourth quarter were allocated to finished goods. During the quarters ended March 31, 2024, and 2023, $398,815 and $131,967 of obsolete and spoiled inventory was written off, respectively. On December 30, 2022, Lifted was able to reach an agreement for the forgiveness of $630,000 of payables owed to its third-party disposable vape device manufacturer. The agreement also includes credits to Lifted against future purchases from the device manufacturer totaling $370,047. The credit is to be provided by the manufacturer at the rate of $46,255.87 per quarter beginning with the first quarter of 2023 and continuing for the next six consecutive quarters, with a final quarterly credit of $46,255.91 for the fourth quarter of 2024. The agreement is a result of the vape manufacturer agreeing to share a portion of the Company’s prior $2,313,902 write-off of certain 2 mL disposable vapes that were written off due to clogging issues. The payable forgiveness resulted in a net $485,496 improvement to the cost of goods sold and accrued liabilities sections of the Company’s consolidated statements of operations as of December 30, 2022. The $370,047 in credits had been booked as an asset as of December 30, 2022 and recognized as other income amortized quarterly at the rate of $46,256 per quarter beginning with the first quarter of 2023 and continuing for the next six consecutive quarters, with a final quarterly credit of $46,255 for the fourth quarter of 2024. However, based on the analysis of credits applied to the vape device manufacturer bills in 2023, Lifted received $33,427 more credits than was expected/agreed to per the agreement ($185,024 per year for 2023 and 2024); as such, Lifted’s revised credit going into 2024 was $151,597, and this is amortized quarterly at the rate of $37,899 per quarter. 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 an 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 The Company has paid security deposits for its leased facilities located at 8920 58 th th th th As part of Lifted’s acquisition of the assets of Oculus, Lifted has assumed Oculus’ lease of office and operational space located at 16178 US Hwy 550, Aztec, New Mexico, and the security deposit that had been previously paid by Oculus to the landlord of this leased space. As described in NOTE 14 – SUBSEQUENT EVENTS The Company has paid security deposits for utilities to various vendors. State Licensing Deposits Revenue 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 provided to customers are recorded as a reduction to gross sales. An allowance for sales is recorded for estimated future discounts/refunds related to returns of products sold prior to the reporting period end. 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, 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. An allowance for sales reduces net sales on the Consolidated Statements of Operations, and also reduces accounts receivable on the Consolidated Balance Sheets. Sales allowances of $344,812 and $635,098 were reported at March 31, 2024 and December 31, 2023, respectively. Management believes that an adequate allowance for sales has been made for discounts/refunds as of period end. Disaggregation of Revenue 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 are tables showing the approximate disaggregation of historical revenue: For the Three Months Ended March 31, Location of Sale 2024 2023 Inside of USA $ 10,666,649 100 % $ 12,449,331 99 % Outside of USA $ - 0 % $ 12,462 1 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Type of Sale 2024 2023 Net sales of raw materials to customers $ 175,922 2 % $ 2,386 0 % Net sales of products to private label clients 1,608,479 15 % 176,720 1 % Net sales of products to wholesalers 2,763,617 26 % 2,439,521 20 % Net sales of products to distributors 5,348,891 50 % 9,277,585 74 % Net sales of products to end consumers 769,740 7 % 565,581 5 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Hemp vs Non-Hemp Product Sales 2024 2023 Net sales of hemp products $ 10,579,759 99 % $ 11,464,850 92 % Net sales of non-hemp products 86,890 1 % 996,943 8 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Product Type 2024 2023 Vapes $ 5,467,103 51 % $ 5,981,661 48 % Edibles $ 3,619,158 34 % $ 3,863,156 31 % Flower $ 669,394 6 % $ 1,620,033 13 % Cartridges $ 856,080 8 % $ 996,943 8 % Apparel and Accessories $ 54,913 1 % $ - 0 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % Deferred Revenue Amounts received from a customer before the purchased product is shipped to the customer are 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 include amounts associated with partially shipped orders, for which the unshipped portion is a contract asset. Contract assets represent invoiced but unfulfilled performance obligations. At March 31, 2024, total deferred revenue was $853,202, all of which is expected to be recognized as revenue in 2024. At December 31, 2023, total deferred revenue was $235,891, all of which was recognized as revenue in 2024. 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 March 31, 2024 and December 31, 2023. March 31, 2024 December 31, 2023 Contract Assets (invoiced but unfulfilled performance obligations) $ 445,882 $ 131,304 Deposits from customers for unfulfilled orders $ 407,320 $ 104,586 Total Deferred Revenue $ 853,202 $ 235,891 Cost of Goods Sold Cost of goods sold amounted to $7,282,609 and $6,813,348 during the quarters ended March 31, 2024 and 2023, respectively. $398,815 and $131,967 of cost of goods sold relates to spoiled and obsolete inventory written off during the quarters ended March 31, 2024 and 2023, respectively. Operating Expenses Total operating expenses decreased to $3,506,374 for the quarter ended March 31, 2024, down from $5,753,329 during the quarter ended March 31, 2023. The primary driver for this decrease in operating expenses was that during the first quarter of 2023, the Company recognized a net loss after ten straight quarters of profitability, solely because of the impact of a one-time, non-cash stock compensation expense of $2,138,175, which, for the quarter ended March 31, 2023, was $1,584,208 on an after-tax basis. At the closing of the acquisition of Lifted in February 2020, 645,000 shares of unregistered common stock of the Company were designated as contingent deferred compensation (the “Deferred Contingent Stock”) to certain persons specified by NWarrender in a schedule delivered by him to the Company (the “Deferred Contingent Stock Recipients”), as an employee retention incentive. Now that certain conditions and requirements have been met, the Deferred Contingent Stock vested on February 24, 2023, and on this date, in accordance with US GAAP, the Company expensed the value of the vested Deferred Contingent Stock. This one-time, non-cash charge swung our Company from a net income for the first quarter of 2023 of $1,442,466 to a net loss of $141,742. But for this charge, our Company would have reported first quarter 2023 basic and fully diluted EPS of $0.10 and $0.09, respectively. Income Taxes Basic and Diluted Earnings (Loss) Per Common Share For the Three Months Ended March 31, 2024 2023 Net Loss $ (1,141,004 ) $ (141,742 ) Weighted average number of common shares outstanding: Basic 14,805,678 14,246,745 Diluted 14,805,678 14,246,745 Basic Net Loss per Common Share $ (0.08 ) $ (0.01 ) Diluted Net Loss per Common Share $ (0.08 ) $ (0.01 ) As of March 31, 2024, 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 2,280,000 shares of common stock at $5.00 per share, all of which are vested. As of March 31, 2024, the Company had 2,500 shares of Series A Preferred Stock outstanding convertible into 250,000 shares of common stock; these are included in the diluted earnings calculation. As of March 31, 2024, the Company had 40,000 shares of 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 March 31, 2024 ($2.00/share). There were also 142,000 shares of issuable Deferred Contingent Stock included in the March 31, 2024 diluted EPS calculation. Also included in the March 31, 2024 diluted EPS calculation was the minimum number of shares of common stock (160,000) that will eventually be issued pursuant to the Oculus Merger Agreement. As described in NOTE 14 – SUBSEQUENT EVENTS (1) Two Hundred Thousand Dollars ($200,000) in cash; and (2) One Hundred Sixty Thousand (160,000) newly issued shares of unregistered LIFD Common Stock. On May 13, 2024, the cash component of the second installment of Merger Consideration was paid, and the stock component of the second installment of Merger Consideration was issued. As of March 31, 2023, in addition to our outstanding common stock, we had 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 2,280,000 shares of common stock at $5.00 per share. Regarding the aforementioned warrants to purchase 2,280,000 shares of our common stock at an exercise price of $5.00 per share: of the total, warrants to purchase 2,255,000 shares of our common stock were vested as of March 31, 2023, while the remaining warrants to purchase 25,000 shares of our common stock were not vested and were subject to certain conditions and requirements as of March 31, 2023. As of March 31, 2023, the Company had 4,500 shares of Series A Preferred Stock outstanding convertible into 450,000 shares of common stock; these are not included in the diluted earnings calculation because the effect of including them would have been anti-dilutive. As of March 31, 2023, the Company had 40,000 shares of 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/share) was higher than the stock closing price at March 31, 2023 ($2.35/share). Recent Accounting Pronouncements On November 27, 2023, the FASB issued ASU 2023-07-Segment Reporting. The new guidance was issued primarily to provide financial statement users with more disaggregated expense information about a public entity’s reportable segments. The guidance is effective for calendar year public entities in 2024 year-end financial statements, and should be adopted retrospectively unless impracticable. The Company is currently evaluating the impact, if any, that the updated standard will have on the consolidated financial statements. 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 Off-Balance Sheet Arrangements Reclassifications Business Combinations and Consolidated Results of Operations and Outlook Business Combinations and Reorganizations When the Company acquires a business, we allocate the purchase price to the assets acquired and liabilities assumed in the transaction at their respective estimated fair values. We record any premium over the fair value of net assets acquired as goodwill. The allocation of the purchase price involves judgments and estimates both in characterizing the assets and in determining their fair value. We use all available information to make these fair value determinations and engage independent valuation specialists to assist in the fair value determination of the acquired long-lived assets. Accounting for Operating and Finance Lease Right-of-Use Assets Accounting for Goodwill 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 using the income approach. 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 and other factors. For the discount rate, the Company considered the current market interest rates, including the interest rates on the Company’s recently closed loans from Surety Bank, 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. 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.

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	3 Months Ended
	Mar. 31, 2024
RISKS AND UNCERTAINTIES
RISKS AND UNCERTAINTIES	NOTE 3 - 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 will evaluate whether there has been a potential impairment of value. The regulatory risks and uncertainties associated with Lifted's cannabinoid-infused products, vaping and nicotine products industries, together with the other significant risks described in our 2023 Annual Report on Form 10-K filed with the SEC on March 29, 2024, have created significant adverse risks to the Company, which have caused substantial doubt about the Company’s ability to continue as a going concern. The Company has significant financial obligations under its loan agreements with Surety Bank, and also the Company is accruing and paying 3% annual dividends on its outstanding Series A and Series B Convertible Preferred Stock. 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, any new rule proposed by the federal Drug Enforcement Administration that might attempt to classify certain hemp-derived products as controlled substances, and any other federal or state laws and regulations related to hemp-derived cannabinoids, nicotine or tobacco products, kratom, psychoactive 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 typically 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, its financial obligations under its loan agreements with Surety Bank, the dividends accruing and being paid on the Company’s preferred stock, future company-wide management bonus pool payments, and other obligations. As a result of all of the foregoing described factors, 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 and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. 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	3 Months Ended
	Mar. 31, 2024
THE COMPANYS INVESTMENTS
THE COMPANY'S INVESTMENTS	NOTE 4 – THE COMPANY’S INVESTMENTS The Company’s Investment in Lifted At December 31, 2023, the Company performed its annual goodwill impairment assessment on the goodwill recognized as part of the acquisition of Lifted, and determined that no impairment was necessary. 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. On April 23, 2024, the management of LFTD Partners had a video conference with the officers of Ablis, Bendistillery and Bend Spirits. During this meeting, the management of those companies discussed the performance of Ablis, Bendistillery and Bend Spirits during the quarter ended March 31, 2024. 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 Company’s Investment in SmplyLifted LLC During February 24, 2020 through 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 wrote off its receivables from SmplyLifted, and its loans to SmplyLifted, which totaled $388,727. On February 9, 2022, Lifted signed an Agreement to sell its 50% membership interest in SmplyLifted 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 tobacco-free nicotine pouches. Lifted had 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. However, Lifted never exercised this option, and SmplyLifted was dissolved on November 28, 2022, due to insolvency.

PROPERTY AND EQUIPMENT NET

PROPERTY AND EQUIPMENT NET	3 Months Ended
	Mar. 31, 2024
PROPERTY AND EQUIPMENT NET
PROPERTY AND EQUIPMENT, NET	NOTE 5 – PROPERTY AND EQUIPMENT, NET Property and Equipment consist of the following: Asset Class March 31, 2024 December 31, 2023 Building $ 805,545 $ 805,545 Land $ 430,754 $ 430,754 Machinery & Equipment $ 1,441,425 $ 1,473,609 Furniture & Fixtures $ 107,509 $ 107,509 Computer Equipment $ 18,979 $ 18,979 Building & Leasehold Improvements $ 613,229 $ 581,394 Vehicles $ 117,047 $ 117,047 Trade Show Booths $ 55,081 $ 55,081 Sub-total: $ 3,589,569 $ 3,589,918 Less: accumulated depreciation $ (701,058 ) $ (593,531 ) $ 2,888,511 $ 2,996,387 The useful lives of the Company’s property and equipment by asset class are as follows: Asset Class Estimated Useful Life Building 39 years Land Indefinite Machinery & Equipment 60 months Building Improvements 60 months Leasehold Improvements The shorter of the length of the lease or 60 months Trade Show Booths 36 months Vehicles 60 months Computer Equipment 60 months Furniture & Fixtures 60 months In the Consolidated Statements of Operations, depreciation expense is consolidated with amortization expense. After allocating depreciation of machinery and equipment and 5511 Building of $76,966 for the quarter as overhead to finished goods, depreciation expense of $48,798 was recognized during the three months ended March 31, 2024. In comparison, after allocating depreciation of machinery and equipment of $33,230 for the quarter as overhead to finished goods, depreciation expense of $33,813 was recognized during the three months ended March 31, 2023.

NOTES RECEIVABLE

NOTES RECEIVABLE	3 Months Ended
	Mar. 31, 2024
NOTES RECEIVABLE
NOTES RECEIVABLE	NOTE 6 – NOTES RECEIVABLE The William Noyes Webster Foundation, Inc. The Foundation, a non-profit Massachusetts corporation, has received a provisional registration from the Commonwealth of Massachusetts to own and operate a medical marijuana cultivation facility in Plymouth, Massachusetts, and a medical marijuana dispensary in Dennis, Massachusetts. Jane W. Heatley (“Heatley”) is the founder and a member of the board of directors of the Foundation. Teaming Agreement Promissory Note Between April and July 2015, the Company loaned an additional $135,350 to the Foundation, evidenced by the Note and secured by the Security Agreement. Following such additional loans, the principal of the loan from the Company to the Foundation, evidenced by the Note and secured by the Security Agreement, is now $737,850. The principal balance outstanding under the Note bore interest at the rate of 12.5% per annum, compounded monthly. It was contemplated that the first payment of accrued interest by the Foundation under the Note would be made as soon after the Foundation commences operations of the Plymouth Cultivation Facility and the Dennis Dispensary as the Foundation’s cash flows shall reasonably permit, but in any event no later than one year after the Foundation commences operations. The principal of the Note would be payable in eight consecutive equal quarterly installments, commencing on the last day of the calendar quarter in which the Foundation commences operations. Principal on the Note and related accrued interest would be considered past due if the aforementioned payments were not received by their due dates. Uncollectable Note and Interest Receivable

INTANGIBLE ASSETS NET

INTANGIBLE ASSETS NET	3 Months Ended
	Mar. 31, 2024
INTANGIBLE ASSETS NET
INTANGIBLE ASSETS, NET	NOTE 7 – INTANGIBLE ASSETS, NET Website The cost of developing Lifted’s website, www.urb.shop, which was previously www.LiftedMade.com, was amortized over 32 months. No amortization related to the website was recognized during the three months ended March 31, 2024 and 2023, since the website intangible asset was fully amortized as of December 31, 2022.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2024
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 8 – RELATED PARTY TRANSACTIONS 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 Lifted’s former Chief Strategy Officer. The sublease is structured so that the sublessor's lease payment obligations to the landlord are passed on to Lifted on a dollar-for-dollar basis, such that the sublessor does not realize a cashflow profit or loss from the sublease. The sublease is currently operating on a month-to-month basis. Since the term is less than twelve months, this lease is not recorded on the Consolidated Balance Sheet, and lease expense is recognized on a straight-line basis over the lease term. Robert T. Warrender II In January 2022, Lifted hired Mr. Robert T. Warrender II, NWarrender’s father, as an employee. Mr. Warrender is also a Director of LFTD Partners Inc. During the quarters ended March 31, 2024 and 2023, $13,846 and $13,846, respectively, in wages were paid to Mr. Warrender. As of March 31, 2024 and 2023, $1,804 and $975 in expense reimbursements were owed to Mr. Warrender, respectively. Robert T. Warrender III Mr. Robert T. Warrender III is NWarrender’s brother, and Director Mr. Robert T. Warrender II’s son. From January 9, 2023 until July 1, 2023, Mr. Warrender worked for Lifted as an employee in sales; previously, Mr. Warrender operated as an independent contractor of Lifted. During the quarter ended March 31, 2023, $9,231 in compensation was paid to Mr. Warrender. Outside Director Fees Each of the Company’s outside directors, including Mr. Vincent J. Mesolella, Dr. Joshua A. Bloom, Mr. Richard E. Morrissy, Dr. James S. Jacobs, and Mr. Kevin J. Rocio, received quarterly director fees of $4,000 in each of the quarters ended March 31, 2024 and 2023. Dr. Jacobs is the brother of CEO GJacobs and the uncle of President and CFO WJacobs. William C. “Jake” Jacobs At the closing of the acquisition of Lifted, 645,000 shares of unregistered common stock of the Company were designated as contingent deferred compensation (the “Deferred Contingent Stock”) to certain persons specified by NWarrender in a schedule delivered by him to the Company at the closing of the Merger (the “Deferred Contingent Stock Recipients”). Now that certain conditions and requirements have been met, starting on February 24, 2023, the Deferred Contingent Stock has begun to be issued to certain Deferred Contingent Stock Recipients who have instructed the Company to issue to them their respective, earned Deferred Contingent Stock. Through March 31, 2024, 503,000 shares of Deferred Contingent Stock have been issued to certain Deferred Contingent Stock Recipients, including 200,000 shares of Deferred Contingent Stock to WJacobs. Nicholas S. Warrender Purchase of 5511 95th Avenue, Kenosha, Wisconsin 53144 Toward the end of 2020, NWarrender, through his assigned entity 95th Holdings, LLC ("Holdings"), purchased a building located at 5511 95th Avenue, Kenosha, Wisconsin 53144 (“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 Holdings, 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 the Omnibus Agreement with NWarrender on December 30, 2021, Lifted was obligated to purchase the 5511 Building from Holdings on or before December 31, 2022 for a fixed purchase price of $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 an Acceleration Agreement, the deadline to purchase the 5511 Building was extended by one year to December 31, 2023. In addition, the Acceleration Agreement contains a provision that if we raised $5,000,000 of debt or equity capital, then Lifted or our designee shall purchase the 5511 Building from Holdings at the agreed upon $1,375,000 purchase price within two days. On December 14, 2023, LFTD Partners and Lifted (together the “Borrower”), jointly borrowed a total of $3,910,000 from Surety Bank, of DeLand, Florida (“Lender”), and simultaneously Lifted purchased the 5511 Building from Holdings for $1,375,000 as previously agreed upon. The Lender made two five-year loans to the Borrower, as joint borrowers: (1) a working capital loan of $3,000,000 at 9.5% fixed annual interest, and (2) a $910,000 loan at 10% fixed annual interest, the net proceeds of which were used by Lifted to pay a portion of the $1,375,000 purchase price of the 5511 Building. The two loans are cross collateralized by a first lien mortgage on the 5511 Building, and by a first lien security interest in all of the other assets owned by LIFD and Lifted, in favor of Surety Bank. Prior to Lifted’s purchase of the 5511 Building, 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 therefore. 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 Holdings (“Landlord”) for office, laboratory and warehouse space in the 5511 Building. The lease commencement date was January 1, 2021, and lease termination date was January 1, 2026. Lifted constructed improvements including a clean room, and gradually moved into the 5511 Building 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 5511 Building at $6.13 per square foot per year in base rent ($68,888.94 in 2021), which was subject to a 2% increase in base rent each year, plus certain operating expenses and taxes. The Lease was to continue until midnight on the fifth Rent Schedule Date Base Monthly Rent January 1, 2021 – December 31, 2021 $ 5,740.75 January 1, 2022 – December 31, 2022 $ 5,855.57 January 1, 2023 – December 31, 2023 $ 5,972.68 January 1, 2024 – December 31, 2024 $ 6,092.13 January 1, 2025 – December 31, 2025 $ 6,213.97 Under the terms of the Lease, the tenant, Lifted, had the option to purchase the property at any time prior to December 31, 2025, and in any event, Lifted had been obligated to purchase the 5511 Building on or before that date. Pursuant to the Lease, in all cases Lifted’s purchase price for the 5511 Building was to be in an amount equal to the greater of: (1) the fair market value of the 5511 Building at the time Lifted purchases the 5511 Building; or (2) any remaining principal balance of any purchase-money mortgage for the 5511 Building 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 was an additional amount ranging between $300,000 and $375,000 based on the number of years that had passed between the commencement of the Lease and the purchase of the 5511 Building by Lifted. Landlord was an entity owned by NWarrender, who is the largest stockholder of the Company as beneficial owner of 3,900,455 shares of common stock. Due to the potential conflict of interest, the terms and conditions of the Lease were negotiated on behalf of Lifted by Mr. 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 was able to benefit through his entity Holdings by receiving rent and by eventually selling the 5511 Building to Lifted. Corner Vapory LLC NWarrender is a 50% owner in Corner Vapory LLC. Corner Vapory LLC owned a vape shop (called Corner Vapory), and Canna Vita, a CBD shop, both of which were located in Kenosha, Wisconsin and were customers of Lifted. The other owners of Corner Vapory LLC consist of Lifted’s Director of Operations and his wife. In the past, Lifted sold products to Corner Vapory from time-to-time; however, Lifted did not sell any products to Corner Vapory LLC during the quarters ended March 31, 2024 and 2023.

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	3 Months Ended
	Mar. 31, 2024
SHAREHOLDERS EQUITY
SHAREHOLDERS' EQUITY	NOTE 9 – 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 and pays 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 and deemed effective by the SEC on August 26, 2021. As of March 31, 2024, 63,650 shares of Series A Preferred Stock have been converted into a total of 6,365,000 shares of common stock of the Company, which leaves 2,500 shares of Series A Preferred Stock currently outstanding, convertible into 250,000 shares of common stock of the Company. As of March 31, 2024 and December 31, 2023, the Company has accrued a liability of $4,190 and $5,328, 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. During the quarters ended March 31, 2024 and 2023, a total of $3,000 and $3,000, 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 share of common stock. The Series B Convertible Preferred Stock accrues and pays 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 and deemed effective by the SEC on August 26, 2021. As of March 31, 2024, 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 March 31, 2024 and December 31, 2023, the Company has accrued a liability of $3,292 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 quarters ended March 31, 2024 and 2023, no 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 At the closing of acquisition of Lifted, 645,000 shares of unregistered common stock of the Company were designated as contingent deferred compensation (the “Deferred Contingent Stock”) to certain persons specified by NWarrender in a schedule delivered by him to the Company at the closing of the Merger (the “Deferred Contingent Stock Recipients”). Now that certain conditions and requirements have been met, starting on February 24, 2023, the Deferred Contingent stock has begun to be issued to certain Deferred Contingent Stock Recipients who have instructed the Company to issue to them their respective, earned Deferred Contingent Stock. Due to the lack of marketability of the Company’s common stock, LFTD Partners hired a third-party valuation firm (the “Valuation Firm”) to calculate discount rates to apply to the value of the Deferred Contingent Stock for both financial reporting and tax purposes. The Valuation Firm used the Finnerty Protective Put Model to determine the discount rates to apply to the Deferred Contingent Stock in order to value it, for both financial reporting and tax reporting purposes. The Finnerty model is variant of the protective put method that estimates the discount based on the average price over the restriction period rather than based on the final price. The Valuation Firm’s report indicated that, for financial reporting purposes, a 22% discount for lack of marketability should be used when valuing all 645,000 shares of Deferred Contingent Stock, as of February 24, 2023. Assumptions used in the model for financial reporting purposes include: that no dividends on common stock will be paid, that the expected volatility is based on the historical volatility of the trading of LIFD’s common stock, and that there is a 0.5 year term based on the six-month holding period due to Rule 144. As of February 24, 2023, total stock compensation expense of $2,138,175 related to the 645,000 shares of Deferred Contingent Stock was recognized. The Valuation Firm’s report also indicated that, for tax reporting purposes, discounts ranging from 23% to 31% for lack of marketability and blockage should be used when valuing the 410,000 shares of Deferred Contingent Stock that were issued during the first quarter of 2023. In the Finnerty Protective Put model for each unique block of issued stock, the Valuation Firm has assumed a minimum term of six months, equal to the minimum time to sell the subject shares due to their restricted nature; and a maximum term equal to the amount of time it would take for the market to absorb the additional shares based upon an assumed additional volume of 7.5%. The Valuation Firm also assumed that no dividends on common stock will be paid, and that the expected volatility is based on the historical volatility of the trading of LIFD’s common stock. Through March 31, 2024, 503,000 shares of Deferred Contingent Stock have been issued to certain Deferred Contingent Stock Recipients. The following is a summary of share-based compensation, stock option and warrant activity as of March 31, 2024 and changes during the quarter then ended: Weighted-Average Weighted-Average Remaining Contractual Aggregate Intrinsic Shares Exercise Price Term (Years) Value Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, December 31, 2023 3,612,198 $ 3.85 1.07 $ 357,008 Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, March 31, 2024 3,612,198 $ 3.85 0.82 $ 170,500 Outstanding Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants, March 31, 2024 3,612,198 $ 3.85 0.82 $ 170,500 Cancellation of Warrants Issued in Connection with the Acquisition of Lifted Made On February 24, 2023, warrants to purchase 15,000 shares of unregistered common stock of the Company were cancelled because the Warrant recipient was no longer continuously employed by Lifted or was no longer a contractor, consultant, paid advisor, or informal paid advisor of Lifted.

CONTINGENT CONTRACTUAL OBLIGATI

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS	3 Months Ended
	Mar. 31, 2024
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS	NOTE 10 – CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Lease and Purchase of Building Located at 5511 95th Ave, Kenosha, Wisconsin 53144 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 was subject to a 2% increase in base rent each year, plus certain operating expenses and taxes. The Lease was to continue until midnight on the fifth Rent Schedule Date Base Monthly Rent January 1, 2021 – December 31, 2021 $ 5,740.75 January 1, 2022 – December 31, 2022 $ 5,855.57 January 1, 2023 – December 31, 2023 $ 5,972.68 January 1, 2024 – December 31, 2024 $ 6,092.13 January 1, 2025 – December 31, 2025 $ 6,213.97 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 was to 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 was adjusted accordingly. Lifted purchased the Premises from Landlord on December 14, 2023, for $1,375,000 in cash as previously agreed upon, and as a result, the Company derecognized the Finance Lease Right-of-Use Asset and recognized the Premises as Land and Building on the Consolidated Balance Sheet. For more information, refer to the section “Bank Financing and Purchase of Headquarters Building” in NOTE 1 – DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. Lease of Space Located at 8920 58th Place, Suite 850, Kenosha, Wisconsin 53144 On September 23, 2021, Lifted entered into a lease agreement with TI Investors of Kenosha LLC, (“TI”) for office and warehouse space located at 8920 58th Place, Suite 850, Kenosha, WI 53144 (the “58 th th th The term of the 58 th th th th Under the terms of the 58 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 The 58 th th th Second Amendment to the Second 58 th Lease of Space Located at 8910 58th Place, Suites 600 and 700, Kenosha, Wisconsin 53144 Lease of Space Located at 8910 58th Place, Suites 600 and 700, Kenosha, Wisconsin 53144 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 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 First Amendment to the Second 58 th On February 23, 2022, the Second 58 th th th Second Amendment to the Second 58 th On March 25, 2024, the Second 58 th th Effective as of April 1, 2024 (the “Expansion Date”), the Second 58 th th th The Expansion Area will be used for office, manufacturing and warehouse space. Under the Second Amendment to the Second 58 th th Commencing on February 1, 2027, the base monthly rent for Suites 600 and 700 of the Second 58 th Suites 600 and 700 Date Base Monthly Rent February 1, 2027 – January 31, 2028 $ 4,637.41 February 1, 2028 – January 31, 2029 $ 4,776.53 February 1, 2029 – May 31, 2029 $ 4,919.83 Commencing on the Expansion Date, the base monthly rent for the Expansion Area (Suite 100) is as follows: Suite 100 Date Base Monthly Rent April 1, 2024 – May 31, 2024 $ 0.00 June 1, 2024 – March 31, 2025 $ 16,770.83 April 1, 2025 – March 31, 2026 $ 17,273.96 April 1, 2026 – March 31, 2027 $ 17,792.18 April 1, 2027 – March 31, 2028 $ 18,325.94 April 1, 2028 – March 31, 2029 $ 18,875.72 April 1, 2029 – May 31, 2029 $ 19,441.99 Under the Second Amendment to the Second 58 th th th th The effectiveness of the Second Amendment to the Second 58 th (i) the Lease Termination Agreement dated March 18, 2024, by and between Ladi and Lifted for Lifted’s leased space located at 8920 58th Place, Suite 850, Kenosha, Wisconsin 53144 (the “8920 Suite 850 Termination Agreement”), (ii) the Lease Termination Agreement dated March 18, 2024, by and between Ladi and Lifted for Lifted’s leased space located at 9560 58th Place, Suite 360, Kenosha, Wisconsin 53144 (the “the 9560 Suite 360 Termination Agreement”), and (iii) the Lease Termination Agreement dated March 18, 2024, by and between Ladi and a third party that currently leases the space located at 8910 58th Place, Suite 100, Kenosha, Wisconsin 53144 (the “8910 Suite 100 Termination Agreement”). These contingencies were met on or about March 27, 2024. Lease of Space Located at 9560 58th Place, Suite 360, Kenosha, Wisconsin 53144 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 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 The Third 58th Lease was terminated as of midnight on March 31, 2024 in conjunction with Lifted entering into the Second Amendment to the Second 58th Lease (defined above) on March 25, 2024. The terms and conditions of the Second Amendment to the Second 58th Lease are described above in the section “Second Amendment to the Second 58th Lease” under “ Lease of Space Located at 8910 58th Place, Suites 600 and 700, Kenosha, Wisconsin 53144 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. The sublessor is Lifted’s former Chief Strategy Officer. The sublease is structured so that the sublessor's lease payment obligations to the landlord are passed on to Lifted on a dollar-for-dollar basis, such that the sublessor does not realize a cashflow profit or loss from the sublease. The sublease is currently operating on a month-to-month basis. Since the term is less than twelve months, this lease is not recorded on the Consolidated Balance Sheet, and lease expense is recognized on a straight-line basis over the lease term. Lease of Space Located at 5732 95th Avenue, Suites 100, 200 and 300, Kenosha, Wisconsin 53144 On November 28, 2022, Lifted entered into a lease agreement with Ladi for commercial space located at 5732 95th Avenue, Suite 200 and 300, Kenosha, WI 53144 (the “5732 Lease”). The 5732 Lease is used for Lifted’s gummy manufacturing operations. The 5732 Lease commenced on February 1, 2023. The initial term of the 5732 Lease extends approximately five years (sixty-one months) from February 1, 2023 to February 29, 2028, unless extended or earlier terminated in accordance with the 5732 Lease. While extensions are not prohibited, Lifted does not have the right to unilaterally elect to extend the term of the 5732 Lease for an additional term. Under the terms of the 5732 Lease, Lifted leases approximately 4,657 square feet of space. Lifted was not required to pay any base square foot charge during February 2023. Lifted is responsible for paying its proportionate share of real estate taxes and other operating costs. Prior to the First Amendment to the 5732 Lease, as described below, the base monthly rent under the 5732 Lease was as follows: Rent Schedule Date Base Monthly Rent February 1, 2023 – February 28, 2023 $ 0.00 March 1, 2023 – February 29, 2024 $ 3,395.73 March 1, 2024 – February 28, 2025 $ 3,531.56 March 1, 2025 – February 28, 2026 $ 3,672.82 March 1, 2026 – February 28, 2027 $ 3,819.73 March 1, 2027 – February 29, 2028 $ 3,972.52 First Amendment to the 5732 Lease Effective April 1, 2023 (the “Expansion Date”), the 5732 Lease was amended (the "First Amendment to the 5732 Lease”) to expand the square footage of the leased space to include an additional 2,668 square feet of space located at 5732 95 th Commencing on the Expansion Date, the base monthly rent for the Expansion Area is: Date Base Monthly Rent April 1, 2023 – January 31, 2024 $ 1,945.42 February 1, 2024 – January 31, 2025 $ 2,023.23 February 1, 2025 – January 31, 2026 $ 2,104.16 February 1, 2026 – January 31, 2027 $ 2,188.33 February 1, 2027 – January 31, 2028 $ 2,275.86 February 1, 2028 – February 29, 2028 $ 2,366.90 Lifted is also responsible for paying its proportionate share of real estate taxes and other operating costs. The 5732 Lease and the First Amendment to the 5732 Lease are accounted for as a single operating lease. Lease of Space Located at 16178 US Hwy 550, Aztec, New Mexico Pursuant to the terms of the Oculus Merger Agreement, upon the closing of the Merger, Lifted assumed Oculus’ lease of office and operational space in Aztec, New Mexico. The leased premises include a shop building of approximately 4,800 square feet and adjacent fenced parking area located at 16178 US Hwy 550, Aztec, New Mexico. The term of this lease was one year, commencing on December 1, 2022 and ending on November 30, 2023, continuing month-to-month thereafter until terminated. The base lease payment is $3,850 per month. All monthly payments are due and payable in advance on the first day of each month. Lifted is also required to pay taxes, insurance and certain maintenance costs of the leased premises. Since the term was less than twelve months, this lease was not recorded on the Consolidated Balance Sheet, and lease expense is being recognized on a straight-line basis over the lease term. As described in NOTE 14 – SUBSEQUENT EVENTS Lease of Space Located at 789 Tech Center Drive, Unit C, Durango, Colorado 81301 On February 27, 2024, Lifted entered into a lease agreement with CR Properties, LLC, (“CR”) for office, manufacturing and warehouse space located at 789 Tech Center Drive, Unit C, Durango, Colorado 81301 (the “789 Tech The initial term of the 789 Tech Lease commenced on March 1, 2024, and will end on February 28, 2025 (“Initial Term”). After the Initial Term, Lifted and CR may renegotiate the lease. Under the terms of the 789 Tech Lease, Lifted leases a total of approximately 2,205 square feet of space. During the Initial Term, Lifted shall pay CR base annual rent of $30,000, payable in equal monthly installments of $2,500. In addition, as part of the 789 Tech Lease, Lifted paid CR a $5,000 security deposit. In addition to the base monthly rent, Lifted is also responsible for paying its proportionate share of real estate taxes and other operating costs. Since the Initial Term is twelve months, this lease is not recorded on the Consolidated Balance Sheet, and lease expense is recognized on a straight-line basis over the lease term. Third Party Facilities From time to time, the Company maintains inventory at third party facilities around the USA. Balance Sheet Classification of Operating Lease Assets and Liabilities Asset Balance Sheet Line March 31, 2024 Operating Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $307,678 in 2024 Non-Current Assets $ 586,027 Liability Balance Sheet Line March 31, 2024 Operating Lease Liabilities Current Liabilities $ 165,727 Non-Current Liabilities 428,246 Lease Costs The table below summarizes the components of lease costs for the following periods: For the Three Months Ended March 31, Lease Cost: 2024 2023 Finance lease expense: Amortization of Right-of-Use Assets $ - $ 10,800 Interest on lease liabilities - 24,162 Operating lease expense 55,314 $ 44,708 Total $ 55,314 $ 79,670 Weighted Average Discount Rate In calculating the right-of-use assets and liabilities, the Company uses a discount rate based on a published range of conventional commercial mortgage interest rates corresponding to the life of each lease. The Company uses the higher end of the range due to the Company’s limited credit history. The Company’s weighted average discount rate for all its right-of-use liabilities as of the end of the reported period is 7.01%. Maturity Analysis The following table is the maturity analysis of the Company’s operating and finance leases as of the reported period end. Maturity Analysis as of March 31, 2024 Finance Operating 2024 $ - $ 154,956 2025 - 191,406 2026 - 197,490 2027 - 115,471 2028 - 12,588 Thereafter - - Total - 671,911 Less: Present value discount - (77,938 ) Lease liability $ - $ 593,973 Allocation of a Portion of Lease Expense to Finished Goods As described in NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES 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 former Chief Strategy Officer (the “CSO”), who worked for Lifted from July 1, 2021 through April 30, 2024, had been hired to develop and implement certain important strategies to assist Lifted’s efforts to increase its production, fulfillment and sales capabilities. The CSO’s two-year agreement with Lifted entitled the CSO 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 March 31, 2024, the bonus payable to the CSO was $163,333. In comparison, at December 31, 2023, the bonus payable to the CSO was $688,068. This bonus is accrued in the Accounts Payable and Accrued Expenses liability account on the Consolidated Balance Sheets. Company-Wide Management Bonus Pool Please refer to NOTE 12 – COMPANY-WIDE MANAGEMENT BONUS POOL Payment of Brokers’ Fees Related to the Sale of Preferred Stock The Company has committed to pay brokers’ fees in regard to the capital being raised for the Company by such brokers in the Company’s private placements of preferred stock, such fee to consist of warrants to purchase unregistered shares of common stock of the Company at an exercise price equal to the conversion price per share of such preferred stock, exercisable at any time during a five year period; the number of such shares will be calculated as six percent of the aggregate capital raised by such brokers in the private placement of preferred stock divided by the conversion price per share of such preferred stock. Other Contingent Contractual Obligations and Commercial Commitments For other contingent contractual obligations and commercial commitments, please refer to NOTE 8 – RELATED PARTY TRANSACTIONS

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	3 Months Ended
	Mar. 31, 2024
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS	NOTE 11 – LEGAL PROCEEDINGS The Company Lifted currently is involved in two pending lawsuits, as the defendant: (1) Jessie Hooks v. Lifted Made, URB Cannabis, Barry Hollingsworth, Gerard Jacobs, Nicholas Warrender, and Pharmlabs, LLC (2) Loree Perry, Individually and on Behalf of All Others Similarly Situated v. Sheikhani Group, et al Lifted currently is involved in one pending lawsuit, as the plaintiff: (1) Lifted Liquids, Inc. v. Asad Awawdeh and Habib Cash and Carry SD, Inc. – Dismissal of Koff v Lifted Made On November 13, 2023, Lifted received a letter dated November 6, 2023 from the State of Wisconsin Department of Workforce Development (“Department”). The letter stated that the Department had dismissed the case Koff v Lifted Made Settlement Agreement with Girish GPO, Inc. On November 9, 2023, Lifted entered into a settlement agreement that was mutually acceptable to the parties which has resolved the following lawsuit: Lifted Liquids, Inc. v. Girish GPO, Inc., Girish Ray, and the Law Offices of Saul Roffe. Settlement Agreement With Dev Distribution, LLC On October 9, 2023, Lifted entered into a settlement agreement that was mutually acceptable to the parties which has resolved the following lawsuit: Lifted Liquids, Inc. v. DEV Distribution, LLC Amendment to Settlement With Dev Distribution, LLC As described in NOTE 14 – SUBSEQUENT EVENTS Settlement Agreement With Edgar Martha On May 25, 2023, Lifted entered into a settlement agreement that was mutually acceptable to the parties which has resolved the following lawsuit: Martha, Edgar v. Lifted Liquids.

COMPANYWIDE MANAGEMENT BONUS PO

COMPANYWIDE MANAGEMENT BONUS POOL	3 Months Ended
	Mar. 31, 2024
COMPANYWIDE MANAGEMENT BONUS POOL
COMPANY-WIDE MANAGEMENT BONUS POOL	NOTE 12 – 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 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. During the fourth quarter of 2022 and the first quarter of 2023, the Company did pay bonuses totaling $466,668 to certain members of the management team of Lifted; however, none of this $466,668 went to GJacobs, WJacobs or NWarrender, and it is accounted for as Company-Wide Management Bonus Pool expense on the Consolidated Statements of Operations. This $466,668 will be deducted from future company-wide bonus pools on a dollar-for-dollar basis.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2024
INCOME TAXES
INCOME TAXES	NOTE 13 – 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 March 31, 2024 2023 Current Domestic-Federal $ - $ 117,702 Domestic-State - 50,005 Franchise taxes 6,996 9,491 Foreign - - 6,996 177,198 Deferred Domestic-Federal (320,763 ) (114,535 ) Domestic-State (84,185 ) (35,441 ) Foreign - - (404,948 ) (149,976 ) Total Provision/(Benefit) for Income Taxes $ (397,952 ) $ 27,222 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 US GAAP. 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, 2018 through 2023. A reconciliation of the amount of tax provision (benefit) computed using the U.S. federal statutory income tax rate to the provision for income taxes on continuing operations is as follows: For the Three Months Ended March 31, 2024 2023 Domestic-Federal $ (324,651 ) $ (24,049 ) State taxes, net of federal benefit (85,458 ) (7,410 ) Non-deductible expenses 4,910 49,339 Franchise taxes 6,996 9,491 Change in estimated future income tax rates (22,328 ) (4,927 ) Change in valuation allowance 22,580 4,778 Total Provision/(Benefit) for Income Taxes $ (397,952 ) $ 27,222 Deferred tax assets and liabilities as of March 31, 2024 and December 31, 2023 were as follows: March 31, December 31, 2024 2023 Deferred Tax Assets: Stock-based compensation $ 2,789,794 $ 2,766,156 Operating loss carry forwards 381,737 - Sales Allowances 91,471 167,051 Spoiled and Written-Off Inventory - 9,839 Accrued Related Party Expenses 479 1,036 Allowance for Doubtful Accounts 172,615 98,746 Lease Liabilities 5,424 4,918 Interest Carryforward 13,661 - Less: Valuation allowance for stock-based compensation (2,664,919 ) (2,642,339 ) Total Deferred Tax Assets 790,262 405,407 Deferred Tax Liabilities: Depreciation & Amortization (401,827 ) (425,536 ) Goodwill (12,969 ) (9,353 ) Total Deferred Tax Liabilities (414,796 ) (434,889 ) Net Deferred Tax Assets/(Liabilities) $ 375,466 $ (29,482 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 14 – 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: Amendment to Settlement With Dev Distribution, LLC On April 1, 2024, the Company entered into an Addendum to Settlement Agreement and Mutual Release (“Addendum”) with Dev. Under the Addendum, the total consideration to be paid by Dev has been increased from $230,000 to $240,000, and the end date of the monthly settlement payment schedule (“Monthly Payments”) has been extended from the earlier of May 1, 2024 or the closing date of Dev’s sale of its assets, of the sale of some or all of the membership interests owned by its current members, or of obtaining a loan or other cash infusion (a “Cash Event”), to the earlier of April 10, 2025, or the date of a Cash Event. Similar to the original Settlement Agreement and Mutual General Release, in the event of a Cash Event, Dev shall be obligated to contemporaneously pay Lifted $240,000 less any Monthly Payments made by Dev to Lifted up to the point of such Cash Event. Stock Buyback Transactions and Cancellations On April 2, 2024, LFTD Partners signed a Stock Buyback Agreement to purchase 25,000 shares of common stock of the Company from a Lifted employee for $1.68 per share, for a total purchase price of $42,000. On April 3, 2024, all such 25,000 shares were purchased by the Company and immediately cancelled. On April 8, 2024, LFTD Partners signed a Stock Buyback Agreement to purchase 18,000 shares of common stock of the Company from a Lifted employee for $1.68 per share, for a total purchase price of $30,240. On April 10, 2024, all such 18,000 shares were purchased by the Company and immediately cancelled. On April 9, 2024, LFTD Partners signed a Stock Buyback Agreement to purchase 100,000 shares of common stock of the Company from a Lifted employee for $1.68 per share, for a total purchase price of $168,000. On April 10, 2024, all such 100,000 shares were purchased and immediately cancelled. Second Amendment to the Second 58 th On March 25, 2024, the Second 58 th th Effective as of April 1, 2024 (the “Expansion Date”), the Second 58 th th th The Expansion Area will be used for office, manufacturing and warehouse space. Under the Second Amendment to the Second 58 th th Commencing on February 1, 2027, the base monthly rent for Suites 600 and 700 of the Second 58 th Suites 600 and 700 Date Base Monthly Rent February 1, 2027 – January 31, 2028 $ 4,637.41 February 1, 2028 – January 31, 2029 $ 4,776.53 February 1, 2029 – May 31, 2029 $ 4,919.83 Commencing on the Expansion Date, the base monthly rent for the Expansion Area (Suite 100) is as follows: Suite 100 Date Base Monthly Rent April 1, 2024 – May 31, 2024 $ 0.00 June 1, 2024 – March 31, 2025 $ 16,770.83 April 1, 2025 – March 31, 2026 $ 17,273.96 April 1, 2026 – March 31, 2027 $ 17,792.18 April 1, 2027 – March 31, 2028 $ 18,325.94 April 1, 2028 – March 31, 2029 $ 18,875.72 April 1, 2029 – May 31, 2029 $ 19,441.99 Under the Second Amendment to the Second 58 th th th th The effectiveness of the Second Amendment to the Second 58 th (i) the Lease Termination Agreement dated March 18, 2024, by and between Ladi and Lifted for Lifted’s leased space located at 8920 58th Place, Suite 850, Kenosha, Wisconsin 53144 (the “8920 Suite 850 Termination Agreement”), (ii) the Lease Termination Agreement dated March 18, 2024, by and between Ladi and Lifted for Lifted’s leased space located at 9560 58th Place, Suite 360, Kenosha, Wisconsin 53144 (the “the 9560 Suite 360 Termination Agreement”), and (iii) the Lease Termination Agreement dated March 18, 2024, by and between Ladi and a third party that currently leases the space located at 8910 58th Place, Suite 100, Kenosha, Wisconsin 53144 (the “8910 Suite 100 Termination Agreement”). These contingencies were met on or about March 27, 2024. Second Installment of Merger Consideration On May 8, 2024, NWarrender, in consultation with WJacobs, made the Determination that the Incremental Pre-Tax Profits were zero dollars ($0). Consequently, the second installment of Merger Consideration consists of: (1) Two Hundred Thousand Dollars ($200,000) in cash; and (2) One Hundred Sixty Thousand (160,000) newly issued shares of unregistered LIFD Common Stock. On May 13, 2024, the cash component of the second installment of Merger Consideration was paid, and the stock component of the second installment of Merger Consideration was issued.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Consolidated Financial Statements	Consolidated Financial Statements
Use of Estimates	Use of Estimates
Cash and Cash Equivalents	Cash and Cash Equivalents
Restricted Cash	Restricted Cash
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value under US 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 –
Accounting for Investments	The Company’s Investment in Lifted Made The financial statements of LFTD Partners are consolidated with Lifted’s, since Lifted is a wholly owned subsidiary of LFTD Partners. The Company’s Investments in Ablis, Bendistillery and Bend Spirits The Company’s investments in Ablis Holding Company, Bendistillery Inc. and Bend Spirits, Inc. are recorded 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. The Company owns less than 20% of the equity ownership of each of these entities and has no substantial influence over the management of the businesses. In accordance with US GAAP, the Company does not consolidate its financial statements with those of Ablis Holding Company, Bendistillery Inc. and Bend Spirits, Inc. 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, if any. The qualitative assessments at the end of first, second and third quarters are done via conference calls with the management teams of Ablis, Bendistillery and Bend Spirits. The qualitative assessment at the end of the fourth quarter 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. The Company’s Investment in SmplyLifted On September 22, 2020, LFTD Partners Inc. and Lifted and privately held SMPLSTC, Costa Mesa, CA formed an equally-owned new entity called SmplyLifted LLC (“SmplyLifted”), which sold tobacco-free nicotine pouches under the brand name FR3SH. Lifted had a 50% membership interest in SmplyLifted. The other 50% of SmplyLifted was owned by SMPLSTC and its principals. 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.
Prepaid Expenses	Prepaid Expenses
Accounts Receivable	Accounts Receivable The Company evaluates the collectability of its trade accounts receivable based on a number of factors. Management of the Company reviews and discusses all outstanding customer trade balances as of reporting period end. In circumstances where the Company becomes aware of a specific customer’s inability to meet its financial obligations to the Company, a specific reserve for bad debts is estimated and recorded (the “Allowance for Doubtful Accounts”), which reduces the recognized receivable to the estimated amount the Company believes will ultimately be collected. Management also considers industry-specific factors which may impact customers’ ability to meet their financial obligations to the Company. In addition to specific customer identification of potential bad debts, management takes into consideration Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses, which is codified as Accounting Standards Codification Topic 326, adds to US GAAP the current expected credit loss model (“CECL Model”), which is a measurement model based on expected losses rather than incurred losses. Under the CECL Model, an entity recognizes its estimate of expected losses as an allowance. The Company has considered the applicable guidance in ASU 2016-13. Key aspects of the CECL Model include the following: 1. The CECL Model applies to financing receivables measured at amortized cost, which includes trade accounts receivable. 2. An entity will recognize an allowance for credit losses that results in the financial statements reflecting the net amount expected to be collected from the financial asset. 3. The allowance represents the portion of the amortized cost basis that an entity does not expect to collect due to credit over the asset’s contractual life, considering past events, current conditions and reasonable and supportable forecasts of future economic conditions. In performing its CECL Model analysis, management calculates the ratio of write offs to sales made to wholesalers and distributors for the trailing three-year period (the “Bad Debt Loss Rate”). The Bad Debt Loss Rate is then multiplied by sales made to wholesalers and distributors during the trailing twelve months (the “Bad Debt Calc”). The Bad Debt Calc is compared to the total accounts receivable that is older than 90 days as of reported period end; for conservatism, whichever is larger is considered the Allowance for Doubtful Accounts as of reported period end. The Company’s position is that the Company’s conservative approach toward the treatment of Allowance for Doubtful Accounts provides sufficient coverage in relation to potential credit losses from outstanding invoice write-offs.
Inventory	Inventory March 31, 2024 December 31, 2023 Raw Goods $ 4,443,581 $ 4,962,652 Finished Goods $ 3,215,862 $ 5,212,015 Total Inventory $ 7,659,443 $ 10,174,667 The process of determining obsolete or spoiled inventory involves: 1) Identifying raw goods that would no longer be used in the manufacture of finished goods; 2) Identifying expired raw goods; 3) Identifying finished goods that would no longer be sold or that are slow moving; 4) Identifying finished goods that are expired; and 5) Valuing and expensing raw and finished goods that would no longer be sold. 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 March 31, 2024, $337,181 of overhead costs incurred during the first quarter of 2024 were allocated to finished goods. In comparison, at December 31, 2023, $338,582 of overhead costs incurred during the fourth quarter were allocated to finished goods. During the quarters ended March 31, 2024, and 2023, $398,815 and $131,967 of obsolete and spoiled inventory was written off, respectively. On December 30, 2022, Lifted was able to reach an agreement for the forgiveness of $630,000 of payables owed to its third-party disposable vape device manufacturer. The agreement also includes credits to Lifted against future purchases from the device manufacturer totaling $370,047. The credit is to be provided by the manufacturer at the rate of $46,255.87 per quarter beginning with the first quarter of 2023 and continuing for the next six consecutive quarters, with a final quarterly credit of $46,255.91 for the fourth quarter of 2024. The agreement is a result of the vape manufacturer agreeing to share a portion of the Company’s prior $2,313,902 write-off of certain 2 mL disposable vapes that were written off due to clogging issues. The payable forgiveness resulted in a net $485,496 improvement to the cost of goods sold and accrued liabilities sections of the Company’s consolidated statements of operations as of December 30, 2022. The $370,047 in credits had been booked as an asset as of December 30, 2022 and recognized as other income amortized quarterly at the rate of $46,256 per quarter beginning with the first quarter of 2023 and continuing for the next six consecutive quarters, with a final quarterly credit of $46,255 for the fourth quarter of 2024. However, based on the analysis of credits applied to the vape device manufacturer bills in 2023, Lifted received $33,427 more credits than was expected/agreed to per the agreement ($185,024 per year for 2023 and 2024); as such, Lifted’s revised credit going into 2024 was $151,597, and this is amortized quarterly at the rate of $37,899 per quarter.
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 an 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 The Company has paid security deposits for its leased facilities located at 8920 58 th th th th As part of Lifted’s acquisition of the assets of Oculus, Lifted has assumed Oculus’ lease of office and operational space located at 16178 US Hwy 550, Aztec, New Mexico, and the security deposit that had been previously paid by Oculus to the landlord of this leased space. As described in NOTE 14 – SUBSEQUENT EVENTS The Company has paid security deposits for utilities to various vendors.
State Licensing Deposits	State Licensing Deposits
Revenue	Revenue 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 provided to customers are recorded as a reduction to gross sales. An allowance for sales is recorded for estimated future discounts/refunds related to returns of products sold prior to the reporting period end. 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, 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. An allowance for sales reduces net sales on the Consolidated Statements of Operations, and also reduces accounts receivable on the Consolidated Balance Sheets. Sales allowances of $344,812 and $635,098 were reported at March 31, 2024 and December 31, 2023, respectively. Management believes that an adequate allowance for sales has been made for discounts/refunds as of period end. Disaggregation of Revenue 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 are tables showing the approximate disaggregation of historical revenue: For the Three Months Ended March 31, Location of Sale 2024 2023 Inside of USA $ 10,666,649 100 % $ 12,449,331 99 % Outside of USA $ - 0 % $ 12,462 1 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Type of Sale 2024 2023 Net sales of raw materials to customers $ 175,922 2 % $ 2,386 0 % Net sales of products to private label clients 1,608,479 15 % 176,720 1 % Net sales of products to wholesalers 2,763,617 26 % 2,439,521 20 % Net sales of products to distributors 5,348,891 50 % 9,277,585 74 % Net sales of products to end consumers 769,740 7 % 565,581 5 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Hemp vs Non-Hemp Product Sales 2024 2023 Net sales of hemp products $ 10,579,759 99 % $ 11,464,850 92 % Net sales of non-hemp products 86,890 1 % 996,943 8 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Product Type 2024 2023 Vapes $ 5,467,103 51 % $ 5,981,661 48 % Edibles $ 3,619,158 34 % $ 3,863,156 31 % Flower $ 669,394 6 % $ 1,620,033 13 % Cartridges $ 856,080 8 % $ 996,943 8 % Apparel and Accessories $ 54,913 1 % $ - 0 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 %
Deferred Revenue	Amounts received from a customer before the purchased product is shipped to the customer are 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 include amounts associated with partially shipped orders, for which the unshipped portion is a contract asset. Contract assets represent invoiced but unfulfilled performance obligations. At March 31, 2024, total deferred revenue was $853,202, all of which is expected to be recognized as revenue in 2024. At December 31, 2023, total deferred revenue was $235,891, all of which was recognized as revenue in 2024. 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 March 31, 2024 and December 31, 2023. March 31, 2024 December 31, 2023 Contract Assets (invoiced but unfulfilled performance obligations) $ 445,882 $ 131,304 Deposits from customers for unfulfilled orders $ 407,320 $ 104,586 Total Deferred Revenue $ 853,202 $ 235,891
Cost of Goods Sold	Cost of Goods Sold Cost of goods sold amounted to $7,282,609 and $6,813,348 during the quarters ended March 31, 2024 and 2023, respectively. $398,815 and $131,967 of cost of goods sold relates to spoiled and obsolete inventory written off during the quarters ended March 31, 2024 and 2023, respectively.
Operating Expenses	Operating Expenses Total operating expenses decreased to $3,506,374 for the quarter ended March 31, 2024, down from $5,753,329 during the quarter ended March 31, 2023. The primary driver for this decrease in operating expenses was that during the first quarter of 2023, the Company recognized a net loss after ten straight quarters of profitability, solely because of the impact of a one-time, non-cash stock compensation expense of $2,138,175, which, for the quarter ended March 31, 2023, was $1,584,208 on an after-tax basis. At the closing of the acquisition of Lifted in February 2020, 645,000 shares of unregistered common stock of the Company were designated as contingent deferred compensation (the “Deferred Contingent Stock”) to certain persons specified by NWarrender in a schedule delivered by him to the Company (the “Deferred Contingent Stock Recipients”), as an employee retention incentive. Now that certain conditions and requirements have been met, the Deferred Contingent Stock vested on February 24, 2023, and on this date, in accordance with US GAAP, the Company expensed the value of the vested Deferred Contingent Stock. This one-time, non-cash charge swung our Company from a net income for the first quarter of 2023 of $1,442,466 to a net loss of $141,742. But for this charge, our Company would have reported first quarter 2023 basic and fully diluted EPS of $0.10 and $0.09, respectively.
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 March 31, 2024 2023 Net Loss $ (1,141,004 ) $ (141,742 ) Weighted average number of common shares outstanding: Basic 14,805,678 14,246,745 Diluted 14,805,678 14,246,745 Basic Net Loss per Common Share $ (0.08 ) $ (0.01 ) Diluted Net Loss per Common Share $ (0.08 ) $ (0.01 ) As of March 31, 2024, 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 2,280,000 shares of common stock at $5.00 per share, all of which are vested. As of March 31, 2024, the Company had 2,500 shares of Series A Preferred Stock outstanding convertible into 250,000 shares of common stock; these are included in the diluted earnings calculation. As of March 31, 2024, the Company had 40,000 shares of 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 March 31, 2024 ($2.00/share). There were also 142,000 shares of issuable Deferred Contingent Stock included in the March 31, 2024 diluted EPS calculation. Also included in the March 31, 2024 diluted EPS calculation was the minimum number of shares of common stock (160,000) that will eventually be issued pursuant to the Oculus Merger Agreement. As described in NOTE 14 – SUBSEQUENT EVENTS (1) Two Hundred Thousand Dollars ($200,000) in cash; and (2) One Hundred Sixty Thousand (160,000) newly issued shares of unregistered LIFD Common Stock. On May 13, 2024, the cash component of the second installment of Merger Consideration was paid, and the stock component of the second installment of Merger Consideration was issued. As of March 31, 2023, in addition to our outstanding common stock, we had 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 2,280,000 shares of common stock at $5.00 per share. Regarding the aforementioned warrants to purchase 2,280,000 shares of our common stock at an exercise price of $5.00 per share: of the total, warrants to purchase 2,255,000 shares of our common stock were vested as of March 31, 2023, while the remaining warrants to purchase 25,000 shares of our common stock were not vested and were subject to certain conditions and requirements as of March 31, 2023. As of March 31, 2023, the Company had 4,500 shares of Series A Preferred Stock outstanding convertible into 450,000 shares of common stock; these are not included in the diluted earnings calculation because the effect of including them would have been anti-dilutive. As of March 31, 2023, the Company had 40,000 shares of 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/share) was higher than the stock closing price at March 31, 2023 ($2.35/share).
Recent Accounting Pronouncements	Recent Accounting Pronouncements On November 27, 2023, the FASB issued ASU 2023-07-Segment Reporting. The new guidance was issued primarily to provide financial statement users with more disaggregated expense information about a public entity’s reportable segments. The guidance is effective for calendar year public entities in 2024 year-end financial statements, and should be adopted retrospectively unless impracticable. The Company is currently evaluating the impact, if any, that the updated standard will have on the consolidated financial statements. 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
Off Balance Sheet Arrangements	Off-Balance Sheet Arrangements
Reclassifications	Reclassifications
Business Combinations and Consolidated Results of Operations and Outlook	Business Combinations and Consolidated Results of Operations and Outlook Business Combinations and Reorganizations When the Company acquires a business, we allocate the purchase price to the assets acquired and liabilities assumed in the transaction at their respective estimated fair values. We record any premium over the fair value of net assets acquired as goodwill. The allocation of the purchase price involves judgments and estimates both in characterizing the assets and in determining their fair value. We use all available information to make these fair value determinations and engage independent valuation specialists to assist in the fair value determination of the acquired long-lived assets.
Accounting for Operating and Finance Lease Right-of-Use Assets	Accounting for Operating and Finance Lease Right-of-Use Assets
Accounting for Goodwill	Accounting for Goodwill 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 using the income approach. 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 and other factors. For the discount rate, the Company considered the current market interest rates, including the interest rates on the Company’s recently closed loans from Surety Bank, 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. 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.

DESCRIPTION OF THE BUSINESS O_2

DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC (Tables)	3 Months Ended
	Mar. 31, 2024
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC
Schedule of working capital and business loan	March 31, 2024 December 31, 2023 Working Capital Loan $ 2,881,479 $ 3,000,000 Business Loan 903,370 910,000 Total principal amount 3,784,849 3,910,000 Less: Unamortized debt financing costs (52,376 ) (55,149 ) Less: Current portion of Surety Bank notes (519,529 ) (506,061 ) Non-Current portion of Surety Bank notes $ 3,212,943 $ 3,348,790
Schedule of maturity of loan	Maturity Analysis as of March 31, 2024: 2024 $ 657,704 2025 876,939 2026 876,939 2027 876,939 2028 1,618,429 Thereafter - Total 4,906,951 Less: Interest portion (1,122,102 ) Total principal amount $ 3,784,849
Schedule of acquisition	Consideration Paid Pursuant to the Asset Purchase Agreement Cash used to pay off Oculus' liabilities at the closing $ 368,488 Consideration Paid Pursuant to the Oculus Merger Agreement First Installment of Merger Consideration 100 shares of common stock of LIFD issued at the closing of the Merger to Chase and Hagan Sanchez $ 209 Second Installment of Merger Consideration Value of Minimum Earnout Consideration to be paid in cash $ 200,000 Value of Minimum Earnout Consideration to be paid in shares of common stock of LIFD (160,000 shares of common stock valued at $5.00 per share) $ 800,000 Total Consideration $ 1,368,697 Assets Acquired: Cash $ 26,420 Accounts receivable $ 60,528 Inventory $ 147,431 Fixed Assets $ 329,559 Security and Utility Deposits $ 4,732 Goodwill $ 800,027 Total Assets Acquired $ 1,368,697 Total Liabilities Assumed $ - Net Assets Acquired $ 1,368,697

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Schedule of inventory	March 31, 2024 December 31, 2023 Raw Goods $ 4,443,581 $ 4,962,652 Finished Goods $ 3,215,862 $ 5,212,015 Total Inventory $ 7,659,443 $ 10,174,667
Schedule of disaggregation of revenue	For the Three Months Ended March 31, Location of Sale 2024 2023 Inside of USA $ 10,666,649 100 % $ 12,449,331 99 % Outside of USA $ - 0 % $ 12,462 1 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Type of Sale 2024 2023 Net sales of raw materials to customers $ 175,922 2 % $ 2,386 0 % Net sales of products to private label clients 1,608,479 15 % 176,720 1 % Net sales of products to wholesalers 2,763,617 26 % 2,439,521 20 % Net sales of products to distributors 5,348,891 50 % 9,277,585 74 % Net sales of products to end consumers 769,740 7 % 565,581 5 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Hemp vs Non-Hemp Product Sales 2024 2023 Net sales of hemp products $ 10,579,759 99 % $ 11,464,850 92 % Net sales of non-hemp products 86,890 1 % 996,943 8 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 % For the Three Months Ended March 31, Product Type 2024 2023 Vapes $ 5,467,103 51 % $ 5,981,661 48 % Edibles $ 3,619,158 34 % $ 3,863,156 31 % Flower $ 669,394 6 % $ 1,620,033 13 % Cartridges $ 856,080 8 % $ 996,943 8 % Apparel and Accessories $ 54,913 1 % $ - 0 % Net Sales $ 10,666,649 100 % $ 12,461,793 100 %
Schedule of deferred revenue	March 31, 2024 December 31, 2023 Contract Assets (invoiced but unfulfilled performance obligations) $ 445,882 $ 131,304 Deposits from customers for unfulfilled orders $ 407,320 $ 104,586 Total Deferred Revenue $ 853,202 $ 235,891
Schedule of Earnings Per Share, Basic and Diluted	For the Three Months Ended March 31, 2024 2023 Net Loss $ (1,141,004 ) $ (141,742 ) Weighted average number of common shares outstanding: Basic 14,805,678 14,246,745 Diluted 14,805,678 14,246,745 Basic Net Loss per Common Share $ (0.08 ) $ (0.01 ) Diluted Net Loss per Common Share $ (0.08 ) $ (0.01 )

PROPERTY AND EQUIPMENT NET (Tab

PROPERTY AND EQUIPMENT NET (Tables)	3 Months Ended
	Mar. 31, 2024
PROPERTY AND EQUIPMENT NET
Schedule of Property and Equipment	Asset Class March 31, 2024 December 31, 2023 Building $ 805,545 $ 805,545 Land $ 430,754 $ 430,754 Machinery & Equipment $ 1,441,425 $ 1,473,609 Furniture & Fixtures $ 107,509 $ 107,509 Computer Equipment $ 18,979 $ 18,979 Building & Leasehold Improvements $ 613,229 $ 581,394 Vehicles $ 117,047 $ 117,047 Trade Show Booths $ 55,081 $ 55,081 Sub-total: $ 3,589,569 $ 3,589,918 Less: accumulated depreciation $ (701,058 ) $ (593,531 ) $ 2,888,511 $ 2,996,387
Schedule of Estimated useful lives	Asset Class Estimated Useful Life Building 39 years Land Indefinite Machinery & Equipment 60 months Building Improvements 60 months Leasehold Improvements The shorter of the length of the lease or 60 months Trade Show Booths 36 months Vehicles 60 months Computer Equipment 60 months Furniture & Fixtures 60 months

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2024
RELATED PARTY TRANSACTIONS
Schedule of Rent	Date Base Monthly Rent January 1, 2021 – December 31, 2021 $ 5,740.75 January 1, 2022 – December 31, 2022 $ 5,855.57 January 1, 2023 – December 31, 2023 $ 5,972.68 January 1, 2024 – December 31, 2024 $ 6,092.13 January 1, 2025 – December 31, 2025 $ 6,213.97

SHAREHOLDERS EQUITY (Tables)

SHAREHOLDERS EQUITY (Tables)	3 Months Ended
	Mar. 31, 2024
SHAREHOLDERS EQUITY
Schedule of Share-based Compensation, Stock Options and Warrant Activity	Weighted-Average Weighted-Average Remaining Contractual Aggregate Intrinsic Shares Exercise Price Term (Years) Value Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, December 31, 2023 3,612,198 $ 3.85 1.07 $ 357,008 Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, March 31, 2024 3,612,198 $ 3.85 0.82 $ 170,500 Outstanding Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants, March 31, 2024 3,612,198 $ 3.85 0.82 $ 170,500

CONTINGENT CONTRACTUAL OBLIGA_2

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
Rent Schedule	Date Base Monthly Rent January 1, 2021 – December 31, 2021 $ 5,740.75 January 1, 2022 – December 31, 2022 $ 5,855.57 January 1, 2023 – December 31, 2023 $ 5,972.68 January 1, 2024 – December 31, 2024 $ 6,092.13 January 1, 2025 – December 31, 2025 $ 6,213.97 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 Suites 600 and 700 Date Base Monthly Rent February 1, 2027 – January 31, 2028 $ 4,637.41 February 1, 2028 – January 31, 2029 $ 4,776.53 February 1, 2029 – May 31, 2029 $ 4,919.83 Suite 100 Date Base Monthly Rent April 1, 2024 – May 31, 2024 $ 0.00 June 1, 2024 – March 31, 2025 $ 16,770.83 April 1, 2025 – March 31, 2026 $ 17,273.96 April 1, 2026 – March 31, 2027 $ 17,792.18 April 1, 2027 – March 31, 2028 $ 18,325.94 April 1, 2028 – March 31, 2029 $ 18,875.72 April 1, 2029 – May 31, 2029 $ 19,441.99 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 Date Base Monthly Rent February 1, 2023 – February 28, 2023 $ 0.00 March 1, 2023 – February 29, 2024 $ 3,395.73 March 1, 2024 – February 28, 2025 $ 3,531.56 March 1, 2025 – February 28, 2026 $ 3,672.82 March 1, 2026 – February 28, 2027 $ 3,819.73 March 1, 2027 – February 29, 2028 $ 3,972.52 Date Base Monthly Rent April 1, 2023 – January 31, 2024 $ 1,945.42 February 1, 2024 – January 31, 2025 $ 2,023.23 February 1, 2025 – January 31, 2026 $ 2,104.16 February 1, 2026 – January 31, 2027 $ 2,188.33 February 1, 2027 – January 31, 2028 $ 2,275.86 February 1, 2028 – February 29, 2028 $ 2,366.90
Schedule of Operating Lease Assets and Liabilities	Asset Balance Sheet Line March 31, 2024 Operating Lease Right-of-Use Asset, net of Right-of-Use Asset Amortization of $307,678 in 2024 Non-Current Assets $ 586,027 Liability Balance Sheet Line March 31, 2024 Operating Lease Liabilities Current Liabilities $ 165,727 Non-Current Liabilities 428,246
Schedule of lease cost	For the Three Months Ended March 31, Lease Cost: 2024 2023 Finance lease expense: Amortization of Right-of-Use Assets $ - $ 10,800 Interest on lease liabilities - 24,162 Operating lease expense 55,314 $ 44,708 Total $ 55,314 $ 79,670
Schedule of maturity of lease liability	Maturity Analysis as of March 31, 2024 Finance Operating 2024 $ - $ 154,956 2025 - 191,406 2026 - 197,490 2027 - 115,471 2028 - 12,588 Thereafter - - Total - 671,911 Less: Present value discount - (77,938 ) Lease liability $ - $ 593,973

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	3 Months Ended
	Mar. 31, 2024
SUBSEQUENT EVENTS
Rent Schedules	Suites 600 and 700 Date Base Monthly Rent February 1, 2027 – January 31, 2028 $ 4,637.41 February 1, 2028 – January 31, 2029 $ 4,776.53 February 1, 2029 – May 31, 2029 $ 4,919.83 Suite 100 Date Base Monthly Rent April 1, 2024 – May 31, 2024 $ 0.00 June 1, 2024 – March 31, 2025 $ 16,770.83 April 1, 2025 – March 31, 2026 $ 17,273.96 April 1, 2026 – March 31, 2027 $ 17,792.18 April 1, 2027 – March 31, 2028 $ 18,325.94 April 1, 2028 – March 31, 2029 $ 18,875.72 April 1, 2029 – May 31, 2029 $ 19,441.99

DESCRIPTION OF THE BUSINESS O_3

DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC
Working Capital Loan	$ 2,881,479	$ 3,000,000
Business Loans	903,370	910,000
Total principal amount	3,784,849	3,910,000
Unamortized debt financing costs	(52,376)	(55,149)
Current portion of Surety Bank notes	(519,529)	(506,061)
Non-Current portion of Surety Bank notes	$ 3,212,943	$ 3,348,790

DESCRIPTION OF THE BUSINESS O_4

DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details 1) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC
2024	$ 657,704
2025	876,939
2026	876,939
2027	876,939
2028	1,618,429
Thereafter	0
Total	4,906,951
Less: Interest portion	(1,122,102)
Total principal amount	$ 3,784,849	$ 3,910,000

DESCRIPTION OF THE BUSINESS O_5

DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC (Details 2)	Mar. 31, 2024 USD ($)
DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC
Cash used to pay off Oculus' liabilties at the closing	$ 368,488
100 shares of common stock of LIFD issued at the closing of the Merger to Chase and Hagan Sanchez	209
Value of minimum consideration to be paid in cash	200,000
Value of minimum consideration to be paid in shares of common stock of LIFD (160,000 shares of common stock valued at $5.00 per share)	800,000
Total Consideration	1,368,697
Cash	26,420
Accounts receivable	60,528
Inventory	147,431
Fixed Assets	329,559
Security and Utility Deposits	4,732
Goodwill	800,027
Total Assets Acquired	1,368,697
Total Liabilities Assumed	0
Net Assets Acquired	$ 1,368,697

DESCRIPTION OF THE BUSINESS O_6

DESCRIPTION OF THE BUSINESS OF LFTD PARTNERS INC. (Details Narrative) - USD ($)					1 Months Ended		3 Months Ended
	May 08, 2024	Dec. 14, 2023	Jul. 11, 2023	Apr. 02, 2023	Feb. 24, 2020	Apr. 30, 2019	Mar. 31, 2024	Mar. 22, 2024	Mar. 31, 2023	Dec. 31, 2023	Apr. 28, 2023
Unregistered shares issue of common stock	160,000
Merger Consideration consists of cash	$ 200,000
Incremental Pre-Tax Profits	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount							100,000
Unregistered common stock							100
Working capital loan							$ 2,881,479			$ 3,000,000
Description of Agreement term							The term of the Agreement is eighteen (18) months from the effective date, renewable upon mutual written agreement of the Parties
Description of Commercial General Liability Insurance							Such coverage shall include (1) Comprehensive Commercial General Liability (“GL”) Insurance with limits of $1,000,000 per occurrence and $2,000,000 in aggregate; (2) Worker’s Compensation Insurance in limits required by applicable law; and (3) Product Liability Insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 in aggregate. GL and Product Liability policies shall name the other Party as an additionally insured party
Aggregate net revenue							$ 10,666,649		$ 12,461,793
Finished goods inventories							256,629		(1,671,501)
Loss							$ (122,334)		$ (104,884)
NWarrender's Determination
Description of agreement for the Incremental Pre-Tax Profits							Incremental Pre-Tax Profits of Lifted being generated by the business is $500,000, then the second installment of the Merger Consideration would be calculated as $500,000 X 5 = $2,500,000, of which ($2,500,000 X .2) = $500,000 would be in the form of cash, and the remaining $2,000,000 would be paid in the form of ($2,000,000/$5) = 400,000 newly issued shares
Salary							$ 150,000
Aggregate amount							$ 50,000
NWarrender's Determination One [Member]
Description of agreement for the Incremental Pre-Tax Profits							Incremental Pre-Tax Profits of Lifted being generated by the business is $25,000, then the second installment of the Merger Consideration would be the Minimum Earnout Consideration of $1,000,000, of which ($1,000,000 X .2) = $200,000 would be in the form of cash, and the remaining $800,000 would be paid in the form of ($800,000/$5) = 160,000 newly issued shares
Ablis, Bendistillery and Bend Spirits
Acquisition Percentage						4.99%
Manufacturing, Sales and Marketing
Annual royalty payments				$ 1,000,000
Business term				3 years
Aggregate net revenue							$ 502,054
Asset Purchase Agreement [Member]
Purchase price in cash											$ 342,068
Machinery purchase											309,213
Cash Borrowed											26,420
Payment for machinery											99,910
Final payment for Assets											209,303
Cash on hand											$ 368,488
Employment Agreements
Salary							100,000
Lease Agreement
Lease payments							$ 3,850
Description of space for building of shop							The leased premises include a shop building of approximately 4,800 square feet
Jeeter Agreement
Description of termination of jeeter agreement								Jeeter is obligated to pay Lifted $150,000 upon the signing of such Termination Agreement, and an additional $150,000 within 15 days following the signing of such Termination Agreement
Product Sales							$ 48,000,000
Aggregate Product Revenue							1,500,000
Aggregate Product Revenues							9,000,000
Finished goods inventories								$ 1,859,780,000,000
Loss							$ 1,349,467,000,000
Extrax NM Agreement
Business term							60 months
Product Sales							$ 10,000,000,000,000
Mirsky Agreement
Finder's fees			6.50%
Promissory Note [Member]
Annual interest rate		9.50%
Descriptions of late fee		The WC Note also requires a 5% late fee on outstanding unpaid payments due under the WC Note where payments are not made within 10 days of the due date
Business loan		$ 910,000
Business Loan Agreement [Member]
Business loan		$ 910,000
Promissory Note One [Member]
Annual interest rate		10%
Descriptions of late fee		The BL Note also requires a 5% late fee on outstanding unpaid payments due under the BL Note
Credit Agreement [Member]
Working capital loan		$ 3,000,000
Annual interest rate		9.50%
Description of credit agreement		Working Capital Loan is repaid to the Lender in less than three years, in the amount of 3% of the Working Capital Loan if the loan is repaid in Year-1, 2% of the Working Capital Loan if the Working Capital Loan is repaid in Year-2, and 1% if the Working Capital Loan is repaid in Year-3
Vice Chairman and Chief Operating Officer [Member] | Building [Member]
Purchase price in cash		$ 1,375,000
Building improvement		$ 193,216
Description of parking lot		The investment in this necessary parking lot had no impact on the $1,375,000 purchase price
Preliminary estimate potential expansion approximately							3,500,000
Vice Chairman and Chief Operating Officer Nicholas S. Warrender [Member] | Building [Member]
Building improvement							$ 1,375,000
Canna Infused Products Co [Member]
Interest Entity Ownership percentage					100%
Surety Bank of DeLand [Member]
Cash Borrowed		$ 3,910,000
Description of Loans to the Brrower		The Lender made two five-year loans to the Borrower, as joint borrowers: (1) a working capital loan of $3,000,000 at 9.5% fixed annual interest, and (2) a $910,000 loan at 10% fixed annual interest, the net proceeds of which were used by Lifted to pay a portion of the $1,375,000 purchase price
Series B Convertible Preferred Stock Member
Preferred Stock, shares outstanding							40,000			40,000
Convertible shares							40,000
Series A Preferred Stock
Preferred Stock, shares outstanding							2,500
Convertible shares							250,000

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Raw Goods	$ 4,443,581	$ 4,962,652
Finished Goods	3,215,862	5,212,015
Total Inventory	$ 7,659,443	$ 10,174,667

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net sales	$ 10,666,649	$ 12,461,793
Percentage of net sales	100%	100%
Inside of USA [Member]
Net sales	$ 10,666,649	$ 12,449,331
Percentage of net sales	100%	99%
Outside of USA [Member]
Net sales	$ 0	$ 12,462
Percentage of net sales	0%	1%

BASIS OF PRESENTATION AND SIG_6

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net sales	$ 10,666,649	$ 12,461,793
Percentage of net sales	100%	100%
Customer [Member]
Net sales	$ 175,922	$ 2,386
Percentage of net sales	2%	0%
Private Label Clients [Member]
Net sales	$ 1,608,479	$ 176,720
Percentage of net sales	15%	1%
Wholesalers [Member]
Net sales	$ 2,763,617	$ 2,439,521
Percentage of net sales	26%	20%
Distributors [Member]
Net sales	$ 5,348,891	$ 9,277,585
Percentage of net sales	50%	74%
End Consumers [Member]
Net sales	$ 769,740	$ 565,581
Percentage of net sales	7%	5%

BASIS OF PRESENTATION AND SIG_7

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net sales	$ 10,666,649	$ 12,461,793
Percentage of net sales	100%	100%
Hemp Products [Member]
Net sales	$ 10,579,759	$ 11,464,850
Percentage of net sales	99%	92%
Non-Hemp Products [Member]
Net sales	$ 86,890	$ 996,943
Percentage of net sales	1%	8%

BASIS OF PRESENTATION AND SIG_8

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 4) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net sales	$ 10,666,649	$ 12,461,793
Percentage of net sales	100%	100%
Vapes [Member]
Net sales	$ 5,467,103	$ 5,981,661
Percentage of net sales	51%	48%
Edibles [Member]
Net sales	$ 3,619,158	$ 3,863,156
Percentage of net sales	34%	31%
Flower [Member]
Net sales	$ 669,394	$ 1,620,033
Percentage of net sales	6%	13%
Cartridges [Member]
Net sales	$ 856,080	$ 996,943
Percentage of net sales	8%	8%
Apparel and Accessories [Member]
Net sales	$ 54,913	$ 0
Percentage of net sales	1%	0%

BASIS OF PRESENTATION AND SIG_9

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 5) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Contract Assets (invoiced but unfulfilled performance obligations)	$ 445,882	$ 131,304
Deposits from customers for unfulfilled orders	407,320	104,586
Total Deferred Revenue	$ 853,202	$ 235,891

BASIS OF PRESENTATION AND SI_10

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details 6) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Net Income	$ (1,141,004)	$ (141,742)
Weighted average number of basic share outstanding	14,805,678	14,246,745
Weighted average number of diluted shares outstanding	14,805,678	14,246,745
Basic Net Income per Common Share	$ (0.08)	$ (0.01)
Diluted Net Income per Common Share	$ (0.08)	$ (0.01)

BASIS OF PRESENTATION AND SI_11

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)		3 Months Ended		12 Months Ended
	May 08, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 30, 2022	Dec. 05, 2019
Spoiled and Written Off Inventory		$ 398,815	$ 131,967
Payroll expenses		435,753
FDIC limit		$ 250,000
Basic net income/loss per share		$ 0.10	$ 0.09
Net income other		$ 1,442,466
Deferred Revenue		853,202		$ 235,891
Deposit amount		1,000,000
Net Income		$ (1,141,004)	$ (141,742)
Unregistered shares issue of common stock	160,000
Merger Consideration consists of cash	$ 200,000
Incremental Pre-Tax Profits	$ 0
Other non cash expense			1,584,208
Description		the analysis of credits applied to the vape device manufacturer bills in 2023, Lifted received $33,427 more credits than was expected/agreed to per the agreement ($185,024 per year for 2023 and 2024); as such, Lifted’s revised credit going into 2024 was $151,597, and this is amortized quarterly at the rate of $37,899 per quarter
Sales allowances		$ 344,812	$ 635,098
Common stock shares		645,000
Description of Calculation of diluted earnings exercise prices		the exercise price ($5.00/share) was higher than the stock closing price at March 31, 2024 ($2.00/share). There were also 142,000 shares of issuable Deferred Contingent Stock	the exercise price ($5/share) was higher than the stock closing price at March 31, 2023 ($2.35/share)
Allowances for doubtful accounts		$ 650,695		375,417
Finder's fees		20%
Accounts receivable		$ 3,901,279		3,586,176
Credit note reserves		33,427
Fixed Assets capitalized		2,500
Fixed Assets cost		2,500
Cost of goods sold		7,282,609	$ 6,813,348
cost of goods sold relates		7,282,609
Cost of goods sold of inventry write down		398,815	131,967
Inventory write down		$ 398,815	131,967
Description of agreement for the forgiveness of payables		Lifted was able to reach an agreement for the forgiveness of $630,000 of payables owed to its third-party disposable vape device manufacturer. The agreement also includes credits to Lifted against future purchases from the device manufacturer totaling $370,047. The credit is to be provided by the manufacturer at the rate of $46,255.87 per quarter beginning with the first quarter of 2023 and continuing for the next six consecutive quarters, with a final quarterly credit of $46,255.91 for the fourth quarter of 2024
Cost of goods and accrued liabilities				485,496
Operating expense		$ 3,506,374	5,753,329
Other income amortized amount per quarter		46,256
Other income amortized amount per quarter Fourth		46,255
Amount booked for assets					$ 370,047
Total Non-cash stock compensation operating expense		$ 2,138,175
Common stock shares designated		630,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		100,000
Description of quarterly amortized amount		Description of quarterly amortized amount
Advertising and Marketing Expenses		$ 176,660	$ 228,571
Finished goods		$ 337,181		$ 338,582
Common Stock, par value		$ 0.001		$ 0.001
Warrant [Member]
Common Stock, par value		$ 1	$ 1
Right to purchase of warrants		155,500	155,500
Warrants Two [Member]
Common Stock, par value		$ 5	$ 5
Right to purchase of warrants		2,280,000	2,280,000
Warrants Four [Member]
Common Stock, par value		$ 5
Right to purchase of warrants		25,000
Warrants non vested		2,280,000
Warrants vested		2,255,000
Stock Option
Common Stock, par value		$ 2	$ 2
Right to purchase of warrants		1,076,698	1,076,698
Warrant One [Member]
Common Stock, par value		$ 1.85	$ 1.85
Right to purchase of warrants		100,000	100,000
Series A Preferred Stock Shares [Member]
Preferred Stock outstanding		2,500	4,500
Convertible Preferred Stock, Shares Reserved for Future Issuance		250,000	450,000
Exercise price per shares		$ 5
Series B Preferred Stock [Member]
Preferred Stock outstanding		40,000	40,000
Convertible Preferred Stock, Shares Reserved for Future Issuance		40,000	40,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		2,280,000
Exercise price per shares		$ 1.30
Deferred Contingent Stock shares issued		142,000
Minimum number of shares of common stock		160,000
Series B Preferred Stock [Member] | Accredited Investors
Convertible Preferred Stock, Shares Reserved for Future Issuance		1,000,000				100,000
2 ML Disposal Vapes [Member]
Inventory write down		$ 2,313,902

RISKS AND UNCERTAINTIES (Detail

RISKS AND UNCERTAINTIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accumulated deficit	$ (3,241,142)		$ (2,096,780)
Annual dividend percentage	3%
Concentration risk, percentage	27%	26%
Five Vendors [Member] | Purchase [Member]
Concentration risk, percentage	71%	79%

THE COMPANYS INVESTMENTS (Detai

THE COMPANYS INVESTMENTS (Details Narrative) - USD ($)	10 Months Ended
	Dec. 31, 2020	Dec. 31, 2023	Feb. 09, 2022	Dec. 31, 2021	Apr. 30, 2019
Bendistillery [Member]
Ownership Interests					4.99%
Purchse Price					$ 1,896,200
SmplyLifted LLC
Investment	$ 195,571			$ 195,571
Ownership Interests	50%	50%	50%	50%
Receivables				$ 388,727
Lifted Amount For Agreement			$ 1
Payment Percentage			99%
Cash			$ 1,000
Loss recognized	$ 4,429

PROPERTY AND EQUIPMENT NET (Det

PROPERTY AND EQUIPMENT NET (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Gross Property And Equipment	$ 3,589,569	$ 3,589,918
Less: Accumulated Depreciation	(701,058)	(593,531)
Net Property And Equipment	2,888,511	2,996,387
Building [Member]
Gross Property And Equipment	805,545	805,545
Land [Member]
Gross Property And Equipment	430,754	430,754
Machinery and Equipment [Member]
Gross Property And Equipment	1,441,425	1,473,609
Furniture and Fixtures [Member]
Gross Property And Equipment	107,509	107,509
Computer Equipment [Member]
Gross Property And Equipment	18,979	18,979
Building & Leasehold Improvements [Member]
Gross Property And Equipment	613,229	581,394
Vehicles [Member]
Gross Property And Equipment	117,047	117,047
Trade Show Booth [Member]
Gross Property And Equipment	$ 55,081	$ 55,081

PROPERTY AND EQUIPMENT NET (D_2

PROPERTY AND EQUIPMENT NET (Details 1)	3 Months Ended
	Mar. 31, 2024
Building [Member]
Estimated Useful Life	39 years
Land [Member]
Estimated Useful Life	Indefinite
Machinery and Equipment [Member]
Estimated Useful Life	60 months
Furniture and Fixtures [Member]
Estimated Useful Life	60 months
Computer Equipment [Member]
Estimated Useful Life	60 months
Vehicles [Member]
Estimated Useful Life	60 months
Trade Show Booth [Member]
Estimated Useful Life	36 months
Building Improvements [Member]
Estimated Useful Life	60 months
Leasehold Improvements [Member]
Estimated Useful Life	The shorter of the length of the lease or 60 months

PROPERTY AND EQUIPMENT NET (D_3

PROPERTY AND EQUIPMENT NET (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Depreciation Expense	$ 33,813	$ 48,798
Machinery and Equipment [Member]
Depreciation Expense	$ 76,966	$ 33,230

NOTES RECEIVABLE (Details Narra

NOTES RECEIVABLE (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended		4 Months Ended
	Sep. 01, 2015	Jul. 31, 2014	Mar. 31, 2024	Mar. 31, 2023	Jul. 31, 2015	Dec. 31, 2015	Jul. 14, 2014
Bad debt expense			$ 275,278	$ 143,519
Secured Promissory Note | William Noyes Webster Foundation Inc
Debt instrument, face amount							$ 1,500,000
Interest receivable [1] | William Noyes Webster Foundation Inc
Bad debt expense	$ 97,427
Unfunded Portion of Note | Secured Promissory Note | William Noyes Webster Foundation Inc
Debt instrument, face amount							$ 897,500
Note receivable payment		$ 602,500			$ 135,350
Advances		600,000
Debt instrument, interest rate, stated percentage						12.50%
Note receivable						$ 737,850
Bad debt expense	$ 737,850
Payment To Consultant | Secured Promissory Note | William Noyes Webster Foundation Inc
Advances		$ 2,500

INTANGIBLE ASSETS NET (Details

INTANGIBLE ASSETS NET (Details Narrative)	3 Months Ended
	Mar. 31, 2024 USD ($)
INTANGIBLE ASSETS NET
Amortization expenses	$ 0
Finite-Lived Intangible Asset, Useful Life	32 months

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)
RELATED PARTY TRANSACTIONS
Base Monthly Rent of Building Year 2021	$ 5,740
Base Monthly Rent of Building Year 2022	5,855
Base Monthly Rent of Building Year 2023	5,972
Base Monthly Rent of Building Year 2024	6,092
Base Monthly Rent of Building Year 2025	$ 6,213

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details Narrative)		3 Months Ended
	Dec. 14, 2023 USD ($)	Mar. 31, 2024 USD ($) ft² $ / bbl shares	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 31, 2022 ft²	Jan. 01, 2022 ft²	Dec. 31, 2021 USD ($)	Oct. 01, 2021 ft²	Jun. 01, 2021 ft²	Jan. 01, 2021 ft²
Sublease costs		$ 3,000
Purchase of obligation				$ 1,375,000
Rented space | ft²					6,132	8,000		5,000	3,300	11,238
Purchase Of Five Five One One Building [Member]
Lease duration description		The lease commencement date was January 1, 2021, and lease termination date was January 1, 2026
Purchase price							$ 68,888
Rented space | ft²		11,238							3,300
Rented space per foot | $ / bbl		6.13
Increase in base rent		2%
Beneficial common stock | shares		3,900,455
Description of additional amount		which was an additional amount ranging between $300,000 and $375,000 based on the number of years that had passed between the commencement of the Lease and the purchase of the 5511 Building by Lifted
Vincent J Mesolella
Director fees received		$ 4,000	$ 4,000
Corner Vapory LLC [Member]
Ownership percentage		50%
Robert T Warrender II [Member]
Wages Paid		$ 13,846	13,846
Reimbursements expense		$ 1,804	975
Robert T Warrender III [Member]
Payment for commission			$ 9,231
William C Jacobs
Unregistered shares of common stock designated | shares		645,000
Deferred shares of common Stock issued | shares		503,000
Purchase of Headquarters Building [Member]
Acceleration agreement description		the Acceleration Agreement contains a provision that if we raised $5,000,000 of debt or equity capital, then Lifted or our designee shall purchase the 5511 Building from Holdings at the agreed upon $1,375,000 purchase price within two days
Purchase of obligation		$ 1,375,000
Purchase of Headquarters Building [Member] | Surety Bank of DeLand [Member]
Amount borrowed	$ 3,910,000
Amount of building	$ 1,375,000
Loan description		Lender made two five-year loans to the Borrower, as joint borrowers: (1) a working capital loan of $3,000,000 at 9.5% fixed annual interest, and (2) a $910,000 loan at 10% fixed annual interest, the net proceeds of which were used by Lifted to pay a portion of the $1,375,000 purchase price of the 5511 Building. The two loans are cross collateralized by a first lien mortgage on the 5511 Building

SHAREHOLDERS EQUITY (Details)

SHAREHOLDERS EQUITY (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
SHAREHOLDERS EQUITY
Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, Ending	3,612,198
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 3.85		$ 3.85
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	9 months 25 days	1 year 25 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	3,612,198
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	9 months 25 days
Exercisable Options, Warrants, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, Beginning	3,612,198
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 170,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 170,500		$ 357,008

SHAREHOLDERS EQUITY (Details Na

SHAREHOLDERS EQUITY (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended			4 Months Ended
	Sep. 21, 2023	Feb. 24, 2023	Mar. 31, 2024	Mar. 31, 2023	May 13, 2019	Dec. 05, 2019	Dec. 31, 2023
Deferred Contingent Stock			503,000
Warrants purchase		15,000
Unregistered common stock during acquisition			645,000
Annual dividend percentage			3%
Preferred Stock, Shares Authorized			10,000,000				10,000,000
First valuation firm [Member]
Deferred Contingent Stock		645,000	410,000
Discount rate for lack of marketability		22%
Expected volatility term		6 months
Stock compensation expense		$ 2,138,175
First valuation firm [Member] | Minimum [Member]
Discount rate for lack of marketability			23%
First valuation firm [Member] | Maximum [Member]
Discount rate for lack of marketability			31%
Second valuation firm [Member]
Discount rate for lack of marketability	27%
WJacobs [Member]
Deferred Contingent Stock			200,000
Series A Preferred Stock
Preferred Stock, Shares Authorized			400,000
Preferred Stock, Voting Rights			Each share of Series A Convertible Preferred Stock may be converted into 100 shares of common stock. The Series A Convertible Preferred Stock accrues and pays 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
Preferred Stock Terms Of Conversion			As of March 31, 2024, 63,650 shares of Series A Preferred Stock have been converted into a total of 6,365,000 shares of common stock of the Company, which leaves 2,500 shares of Series A Preferred Stock currently outstanding, convertible into 250,000 shares of common stock of the Company
Accrued Liability			$ 4,190	$ 5,328
Dividends, Cash			$ 3,000	$ 3,000
Series A Preferred Stock | Accredited Investors
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
Annual dividend percentage					3%
Series B Preferred Stock [Member]
Convertible Preferred Stock, Shares Reserved for Future Issuance			40,000	40,000
Preferred Stock, Shares Authorized			5,000,000
Preferred Stock, Voting Rights			Each share of Series B Convertible Preferred Stock may be converted into one share of common stock. The Series B Convertible Preferred Stock accrues and pays 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
Preferred Stock Terms Of Conversion			As of March 31, 2024, 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			$ 3,292	$ 1,796
Dividends, Cash			$ 0	$ 0
Series B Preferred Stock [Member] | Accredited Investors
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
Convertible Preferred Stock, Shares Reserved for Future Issuance			1,000,000			100,000
Annual dividend percentage						3%

CONTINGENT CONTRACTUAL OBLIGA_3

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
Base monthly rent of premises, year 2021	$ 5,740
Base monthly rent of premises, year 2022	5,855
Base monthly rent of premises, year 2023	5,972
Base monthly rent of premises, year 2024	6,092
Base monthly rent of premises, year 2025	$ 6,213

CONTINGENT CONTRACTUAL OBLIGA_4

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 1) - Lease of space 5,000 square feet [Member]	3 Months Ended
	Mar. 31, 2024 USD ($)
Base monthly rent of lease space, year 2022	$ 2,395
Base monthly rent of lease space, year 2023	2,467
Base monthly rent of lease space, year 2024	$ 2,541

CONTINGENT CONTRACTUAL OBLIGA_5

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 2) - Lease of Space 8,000 square feet	3 Months Ended
	Mar. 31, 2024 USD ($)
Base monthly rent of lease space, year 2022	$ 4,000
Base monthly rent of lease space, year 2023	4,120
Base monthly rent of lease space, year 2024	4,243
Base monthly rent of lease space, year 2025	4,370
Base monthly rent of lease space, year 2026	$ 4,502

CONTINGENT CONTRACTUAL OBLIGA_6

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 3) - Suites 600 and 700 of the Second 58th Lease	3 Months Ended
	Mar. 31, 2024 USD ($)
February 1, 2027 - January 31, 2028
Base monthly rent	$ 4,637
February 1, 2028 - January 31, 2029
Base monthly rent	4,776
February 1, 2029 - May 31, 2029
Base monthly rent	$ 4,919

CONTINGENT CONTRACTUAL OBLIGA_7

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 4) - Suite 100	3 Months Ended
	Mar. 31, 2024 USD ($)
April 1, 2024 - May 31, 2024
Base monthly rent	$ 0
April 1, 2025 - March 31, 2026
Base monthly rent	17,273
April 1, 2028 - March 31, 2029
Base monthly rent	18,875
April 1, 2027 - March 31, 2028
Base monthly rent	18,325
April, 1, 2026 - March 31, 2027
Base monthly rent	17,792
June 1, 2024 - March 31, 2025
Base monthly rent	16,770
April 1, 2029 - May 31, 2029
Base monthly rent	$ 19,441

CONTINGENT CONTRACTUAL OBLIGA_8

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 5) - Lease of space 6,132 square feet [Member]	3 Months Ended
	Mar. 31, 2024 USD ($)
Base monthly rent of lease space, year 2023	$ 5,493
Base monthly rent of lease space, year 2024	5,630
Base monthly rent of lease space, year 2025	5,771
Base monthly rent of lease space, year 2026	5,915
Base monthly rent of lease space, year 2027	$ 6,063

CONTINGENT CONTRACTUAL OBLIGA_9

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 6) - Lease of Space 4,657 sq feet	3 Months Ended
	Mar. 31, 2024 USD ($)
Base monthly rent of lease space, year 2023	$ 0
Base monthly rent of lease space, year 2024	3,395
Base monthly rent of lease space, year 2025	3,531
Base monthly rent of lease space, year 2026	3,672
Base monthly rent of lease space, year 2027	3,819
Base monthly rent of lease space, year 2028	$ 3,972

CONTINGENT CONTRACTUAL OBLIG_10

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 7) - Lease Expansion Area Amendment [Member]	3 Months Ended
	Mar. 31, 2024 USD ($)
Base monthly rent of lease space, year 2023	$ 1,945
Base monthly rent of lease space, year 2024	2,023
Base monthly rent of lease space, year 2025	2,104
Base monthly rent of lease space, year 2026	2,188
Base monthly rent of lease space, year 2027	2,275
Base monthly rent of lease space for year 2028	$ 2,366

CONTINGENT CONTRACTUAL OBLIG_11

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 8) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
Operating Lease Right Of Use Asset	$ 586,027	$ 626,869
Operating Lease Liability Current	165,727	169,437
Operating Lease Liability Noncurrent	$ 428,246	$ 463,623

CONTINGENT CONTRACTUAL OBLIG_12

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 9) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
Amortization of Right of Use Assets	$ 0	$ 10,800
Interest on lease liabilities	0	24,162
Operating Lease Expense	55,314	44,708
Total Finance Lease Expense	$ 55,314	$ 79,670

CONTINGENT CONTRACTUAL OBLIG_13

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details 10)	Mar. 31, 2024 USD ($)
CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
2024	$ 0
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total finance lease liability	0
Less: Present value discount	0
Finance Lease Liability	0
2024	154,956
2025	191,406
2026	197,490
2027	115,471
2028	12,588
Thereafter	0
Total operating lease liability	671,911
Less: Present value discount	(77,938)
Operating Lease Liability	$ 593,973

CONTINGENT CONTRACTUAL OBLIG_14

CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS (Details Narrative)				3 Months Ended
	Feb. 07, 2024 USD ($) ft²	Dec. 14, 2023 USD ($)	Jul. 06, 2022 USD ($)	Mar. 31, 2024 USD ($) ft² shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 31, 2022 ft² $ / bbl	Jan. 01, 2022 ft² $ / bbl	Dec. 31, 2021 USD ($)	Oct. 01, 2021 ft² $ / bbl	Jul. 01, 2021 USD ($)	Jun. 01, 2021 ft²	Jan. 01, 2021 USD ($) ft² $ / bbl
Premises Rent, Per Square | $ / bbl							10.75	6		5.75			6.13
Base Rent, Amount													$ 68,888
Increase In Base Rent (percentage)										3%			2%
Sublease cost			$ 3,000
Purchase of obligation						$ 1,375,000
Immaterial Loss On Lease Modification									$ 1,446
Lease term period				39 years
Purchase premises		$ 1,375,000
Shares Of Common Stock | shares				3,900,455
Weighted average discount rate				7.01%
Rented space | ft²							6,132	8,000		5,000		3,300	11,238
CR Properties LLC [Member]
Base Rent, Amount	$ 30,000
Monthly installment payable	$ 2,500
Lease of area | ft²	2,205
Additional security deposit	$ 5,000
April 4 2024 [Member]
Additional security deposit				$ 27,741
Chief Strategy Officer [Member]
Bonus Equal											5%
Bonus Payable				$ 163,333	$ 688,068
Net Sales											$ 6,000,000
Salary											$ 180,000
Oculus Merger Agreement [Member]
Lease of area | ft²				4,800
Lease payments per month				$ 3,850
Second 58th Lease
Lease of area | ft²				31,000
Additional lease area | ft²				23,000
Additional security deposit				$ 27,741
Total security deposit paid				$ 34,141

LEGAL PROCEEDINGS (Details Narr

LEGAL PROCEEDINGS (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2024	Mar. 31, 2024
Nicholas Warrender, and Pharmlabs, LLC [Member]
Settlement Cost		$ 1,000
Law Suit Lifted Liquids Inc DEV Distribution [Member]
Description related to lawsuit		vendor who had failed to deliver certain products that Lifted had purchased for $263,938. Dev filed a counterclaim alleging breach of contract. In October 2023, the parties settled the litigation and agreed to mutual releases and dismissal of the lawsuit in exchange for Dev paying $230,000 and providing certain equipment and product
Martha, Edgar v. Lifted Liquids [Member]
Description related to lawsuit		the parties settled the litigation and agreed to mutual releases and dismissal of the lawsuit in exchange for $5,000 paid by Lifted to Mr. Martha
Sheikhani Group, et al [Member]
Settlement Cost		$ 1,000
Awawdeh And Habib [Member]
Settlement Cost		$ 98,000
Subsequent Event [Member]
Consideration description	Under the Addendum, the total consideration to be paid by Dev has been increased from $230,000 to $240,000, and the end date of the monthly settlement payment schedule

COMPANY WIDE MANAGEMENT BONUS P

COMPANY WIDE MANAGEMENT BONUS POOL (Details Narrative) - USD ($)	3 Months Ended			9 Months Ended	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2022
COMPANYWIDE MANAGEMENT BONUS POOL
Annual Bonus	$ 466,668	$ 466,668	$ 466,668
Eliminated Accrual Bonus	$ 2,121,532		$ 466,668
Diluted earnings per share	$ 0.56			$ 0.42	$ 0.56

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Current
Domestic-federal	$ 0	$ 117,702
Domestic-state	0	50,005
Texas Franchise Tax	6,996	9,491
Foreign	0	0
Total	6,996	177,198
Deferred
Domestic-federal	(320,763)	(114,535)
Domestic-state	(84,185)	(35,441)
Foreign	0	0
Total	(404,948)	(149,976)
Total Provision (benefit) For Income Taxes	$ (397,952)	$ 27,222

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
INCOME TAXES
Domestic Federal	$ (324,651)	$ (24,049)
State taxes, net of federal benefit	(85,458)	(7,410)
Non-deductible Expenses	4,910	49,339
Franchise taxes	6,996	9,491
Change In Estimated Future Income Tax Rates	(22,328)	(4,927)
Change In Valuation Allowance	22,580	4,778
Total Provision (benefit) For Income Tax	$ (397,952)	$ 27,222

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Deferred Tax Assets
Stock-based Compensation	$ 2,789,794	$ 2,766,156
Operating loss carry forwards	381,737	0
Sales allowances	91,471	167,051
Spoiled and Written-Off Inventory	0	9,839
Accrued Related Party Expenses	479	1,036
Allowance For Doubtful Accounts	172,615	98,746
Lease Liabilities	5,424	4,918
Interest Carryforward	13,661	0
Less: Valuation allowance for stock-based compensation	(2,664,919)	(2,642,339)
Total Deferred Tax Assets	790,262	405,407
Deferred Tax Liabilities:
Depreciation & Amortization	(401,827)	(425,536)
Goodwill	(12,969)	(9,353)
Total Deferred Tax Liabilities	(414,796)	(434,889)
Net Deferred Tax Assets/(Liabilities)	$ 375,466	$ (29,482)

INCOME TAXES (Details Narrative

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

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Suites 600 and 700 of the Second 58th Lease	3 Months Ended
	Mar. 31, 2024 USD ($)
February 1, 2027 - January 31, 2028
Base monthly rent	$ 4,637
February 1, 2028 - January 31, 2029
Base monthly rent	4,776
February 1, 2029 - May 31, 2029
Base monthly rent	$ 4,919

SUBSEQUENT EVENTS (Details 1)

SUBSEQUENT EVENTS (Details 1) - Suite 100	3 Months Ended
	Mar. 31, 2024 USD ($)
April 1, 2024 - May 31, 2024
Base monthly rent	$ 0
April 1, 2025 - March 31, 2026
Base monthly rent	17,273
April 1, 2028 - March 31, 2029
Base monthly rent	18,875
April 1, 2027 - March 31, 2028
Base monthly rent	18,325
April, 1, 2026 - March 31, 2027
Base monthly rent	17,792
June 1, 2024 - March 31, 2025
Base monthly rent	16,770
April 1, 2029 - May 31, 2029
Base monthly rent	$ 19,441

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)			3 Months Ended
	May 08, 2024 USD ($) shares	Apr. 01, 2024 USD ($)	Mar. 31, 2024 USD ($) ft²	Apr. 10, 2024 shares	Apr. 09, 2024 USD ($) $ / shares shares	Apr. 08, 2024 USD ($) $ / shares shares	Apr. 03, 2024 shares	Apr. 02, 2024 USD ($) $ / shares shares
Incremental Pre-Tax Profits	$ 0
Merger Consideration consists of cash	$ 200,000
Unregistered shares issue of common stock | shares	160,000
April 4 2024 [Member]
Additional security deposit			$ 27,741
Second 58th Lease
Lease of area | ft²			31,000
Additional lease area | ft²			23,000
Additional security deposit			$ 27,741
Total security deposit paid			$ 34,141
Subsequent Event [Member]
Incremental Pre-Tax Profits	$ 0
Merger Consideration consists of cash	$ 200,000
Unregistered shares issue of common stock | shares	160,000
Total consideration settlement amount		$ 230,000
Total consideration settlement increased amount		$ 240,000
Subsequent Event [Member] | Stock Buyback Agreement [Member]
Shares of common stock purchased | shares					100,000	18,000		25,000
Shares of common stock purchased price per share | $ / shares					$ 1.68	$ 1.68		$ 1.68
Shares of common stock total purchase price					$ 168,000	$ 30,240		$ 42,000
Cancelled shares of common stock | shares				100,000	18,000		25,000