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.
Lifted Made, a subsidiary of LFTD Partners Inc. (OTCQB:LIFD), has achieved notable recognition at the High Times Hemp Cup: People's Choice Edition 2023. The company secured first place in the Legal Psychoactive Vape Pens category for its 3 mL Urb Watermelon Mojito Live Resin THC Blend Vape and second place in the Legal Psychoactive Flower category for the Urb Watermelon Mojito Caviar Flower. CEO Nick Warrender emphasized the achievement as a reflection of the product quality and consumer enthusiasm. Lifted Made specializes in hemp-derived and psychoactive products, marketed under the award-winning Urb and Silly Shruum brands.
LFTD Partners (OTCQB:LIFD) announced record revenue of $57.4 million for 2022, an 81% increase from 2021. The company also reported a 24% rise in net income to $7.2 million, with earnings per share rising to $0.51. Despite the overall annual success, Q4 2022 saw a 12% revenue decline to $11.3 million and a significant 55% drop in net income to $608,589. The company maintains a strong balance sheet, highlighted by a 120% increase in cash reserves and no debt as of year-end 2022. An earnings conference call is scheduled for March 22, 2023.
LFTD Partners Inc. (OTCQB:LIFD), parent of Lifted Made, is set to release its financial results for the fiscal year ending December 31, 2022, after the market closes on March 21, 2023. An earnings conference call will follow on March 22, 2023, at 8:30 AM ET, allowing participants to ask questions. The company focuses on hemp and psychoactive products, with brands such as Urb Finest Flowers and Silly Shruum. LFTD also has a stake in Ablis, a CBD-infused beverage company, and craft distillers Bendistillery Inc., enhancing its portfolio in the cannabis industry.
LFTD Partners Inc. (OTCQB: LIFD) announced a five-year exclusive agreement with Cali Sweets, LLC, which allows its subsidiary, Lifted Made, to manufacture and distribute disposable vape and gummy products under the Koko Puffz and Koko Gummiez brands. The partnership involves shared production and marketing costs, with 60% of revenue going to Lifted Made. CEO Gerard Jacobs emphasized that this collaboration helps expand Lifted Made's business without stock dilution or borrowing needs. The agreement is expected to leverage social media marketing by Cali Sweets to increase product visibility.
LFTD Partners Inc. (OTCQB: LIFD) announced that its subsidiary, Lifted Made, has secured a deal with a disposable vape device manufacturer to recover over $1 million lost due to issues with clogged devices recognized in Q3 2022. The manufacturer will forgive $630,000 owed and provide credits totaling $370,047 for future purchases. CEO Nick Warrender expressed optimism for their partnership and highlighted the positive reception of new 3 mL disposable vape devices.
LFTD Partners Inc. (OTCQB: LIFD) has announced an expansion of its subsidiary Lifted Made in Kenosha, Wisconsin.
The company is leasing an additional 4,657 square feet, increasing its total space to 37,627 square feet. The new lease, effective February 1, 2023, features a 14% increase in operational capacity.
This expansion enables Lifted Made to manufacture gummies for external clients and explore diversification into other wellness products, all aimed at reducing costs and enhancing supply chain control.
LFTD Partners Inc. (OTCQB:LIFD) reported strong financial results for Q3 2022, achieving its ninth consecutive quarter of positive earnings per share. Revenue rose 27% year-over-year to $11.2 million, with a net income of $423,486 and earnings per share of $0.03. The company anticipates breaking $60 million in annual sales for 2022 and is exploring a significant acquisition to diversify its revenue streams, which could lead to a stock exchange listing. Cash on hand stands at $4.4 million, with no secured debt.
LFTD Partners Inc. (OTCQB:LIFD), a prominent player in the cannabis and psychedelics sector, will announce its financial results for Q3 2022 on November 11, 2022, post-market. An earnings call is scheduled for November 14, 2022, at 8:30 AM ET. The company is focused on acquiring profitable brands in the hemp-derived cannabinoid and psychedelics markets, with Lifted Made as its primary subsidiary. Stakeholders can access the earnings call via phone or webcast, with details provided in the PR.
LFTD Partners Inc. (OTCQB:LIFD) announced its wholly-owned subsidiary, Lifted Made, will be the exclusive sponsor for hemp-derived products at the North Coast Music Festival from September 2-4, 2022. Lifted Made, known for its Urb Finest Flowers brand, will sell products during the festival, enhancing the experience for attendees. CEO Nicholas S. Warrender expressed excitement over the partnership, citing the festival's reputation in the EDM scene, while North Coast representatives welcomed the collaboration.
LFTD Partners Inc. (OTCQB:LIFD) reported remarkable financial results for Q2 2022, showcasing a 151% increase in revenue to $16,776,502 compared to $6,695,144 in Q2 2021. The company achieved a 102% rise in net income, totaling $3,219,460, marking its eighth consecutive quarter of positive GAAP net income. Basic EPS rose by 64% to $0.23, while diluted EPS surged by 82% to $0.20. Additionally, cash on hand increased 134% to $3,751,144, reflecting strong operational performance.