Welcome to our dedicated page for Lftd Partners news (Ticker: LIFD), a resource for investors and traders seeking the latest updates and insights on Lftd Partners stock.
LFTD Partners Inc. reports developments for an OTCQB operating company whose principal subsidiary, Lifted Made, manufactures and sells hemp-derived, wellness, energy and other psychoactive products. Recurring updates include financial results, operating income, inventory, working capital, debt balances and product activity across the Urb, Mielos and Rebel brands.
Company news also covers Lifted Made’s exclusive manufacturing and sales relationships for Diamond Supply Co. and Cali Sweets hemp-derived products, collaborations involving Urb-branded cannabis products, brand identity and loyalty-program launches, minority interests in Ablis and Bend-based spirits businesses, and governance changes at the public-company parent.
On June 17, 2024, LFTD Partners Inc. (OTCQB: LIFD), the parent company of Lifted Made, issued a letter applauding Florida Governor Ron DeSantis for vetoing Senate Bill 1698. This bill, if passed, would have forced the closure of approximately 5,000 hemp businesses, resulting in the loss of 64,000 jobs and $8.9 billion in taxable business revenue for Florida. LFTD Partners emphasized the importance of Governor DeSantis's decision in protecting the hemp industry and preserving jobs and tax revenue. They criticized the bill as an attempt by large marijuana companies to monopolize the cannabis market in Florida by eliminating competition from the hemp sector.
Lifted Made, which produces hemp-derived consumer goods, stressed that the veto supports healthier alternatives to opioids and alcohol, arguing that reasonable regulations are necessary but wholesale shutdowns are not. The company highlighted the 2018 federal Farm Bill, which legalized hemp products, contrasting it with the illegal status of certain marijuana products under federal law.
LFTD Partners (OTCQB:LIFD), the parent company of Lifted Made, reported its Q1 2024 financial results. Revenue fell 14% to $10.67M from $12.46M in Q1 2023. Operating loss increased to $122K from $105K, while net loss surged to $1.14M from $142K. Basic and diluted loss per share widened to $0.08 from $0.01. On the balance sheet, cash remained steady at $4.38M. Inventory dropped 25% to $7.66M. Current assets and working capital decreased by 15% and 12%, respectively. Notes payable reduced by 3% to $3.73M. The current ratio improved slightly to 2.62. The company will hold a conference call on May 15, 2024, at 8:30 AM ET to discuss these results and provide updates.
LFTD Partners (OTCQB:LIFD), the parent company of Lifted Made, known for its Urb Finest Flowers brand, will release its first quarter 2024 financial results on May 14, 2024. Following the release, an earnings conference call and webcast will take place on May 15, 2024, at 8:30 AM ET to discuss the results. Investors can join the call toll-free at 877-545-0320 or internationally at 973-528-0002 using access code 362392. The webcast link and replay will be available on the Investor Relations section of their website. Questions can be submitted prior to the call by emailing jakejacobs@lftdpartners.com.
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