Welcome to our dedicated page for Lftd Partners news (Ticker: LIFD), a resource for investors and traders seeking the latest updates and insights on Lftd Partners stock.
LFTD Partners Inc. (OTCQB: LIFD) is a publicly traded parent company based in Jacksonville, Florida, best known as the corporate parent of Lifted Made, a manufacturer and seller of Urb hemp-derived and other psychoactive products, Mielos hemp-free wellness gummies, and Rebel hemp-free energy gummies. The news surrounding LFTD Partners often centers on financial performance, product developments, collaborations, and regulatory developments affecting its hemp-derived and cannabis-related activities.
Company news releases regularly cover quarterly financial results, where LFTD Partners reports revenue, operating income or loss, net income or loss, and key balance sheet metrics. These announcements are typically accompanied by details on scheduled earnings conference calls and webcasts, giving investors and observers structured opportunities to hear management discuss the business.
Another major theme in LIFD news is brand and product initiatives at Lifted Made. Examples include the launch of Urb's "Fly High" brand identity and the Urb Miles loyalty program, as well as collaborations such as Urb NM in New Mexico, which has been recognized as a fast-growing marijuana brand. News items also highlight exclusive manufacturing arrangements for Diamond Supply Co. and Cali Sweets hemp-derived products, and manufacturing for a subsidiary of a large, publicly traded U.S. marijuana company.
Regulatory and strategic developments are also prominent. LFTD Partners has issued detailed commentary on federal legislation that could ban intoxicating hemp-derived consumable products, outlining potential impacts on sales, goodwill, investments, and inventory. Additionally, the company has announced letters of intent to acquire Illinois cannabis licenses, industrial properties, and related businesses as part of a planned expansion into the Illinois marijuana market, subject to extensive conditions and approvals.
For readers following LIFD, this news page brings together updates on earnings, legislative and regulatory developments, brand launches, collaborations, and proposed acquisitions that shape LFTD Partners' evolving position in hemp-derived products, wellness gummies, energy gummies, and cannabis-related markets.
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.
LFTD Partners Inc. (OTCQB: LIFD) has announced the prepayment of $916,668 in remaining secured debt, fully utilizing cash flow from its subsidiary, Lifted Made. This milestone event follows previous payments totaling $2,833,332 over the past eight months, eliminating all secured debt. President and CFO, William C. Jacobs, emphasized this achievement's significance for the company in the cannabis sector. With debts cleared, LFTD Partners plans to explore a potential acquisition and consider stock buybacks as approved by the board.
LFTD Partners Inc. (OTCQB: LIFD) has prepaid $916,666 of its secured debt, reducing its outstanding note payable to $916,668. This prepayment utilized free cash flow from the operations of its subsidiary, Lifted Made, following a previous identical payment in June 2022. The company's leadership acknowledges the need for a solid working capital foundation amid challenging market conditions within the cannabis industry. LFTD Partners continues discussions with potential lenders and targets for acquisition.
LFTD Partners Inc. (OTCQB: LIFD) has reported its sixth operational expansion in two years, signing a five-month sublease for 2,600 square feet in Chicago to improve sales efficiency. This move increases their total space to 32,970 square feet, reflecting a 9% increase. The Chicago office aims to reduce commuting time for sales staff and target a broader talent pool. The sublease costs $1.15 per square foot monthly, with additional responsibilities for taxes and maintenance.
LFTD Partners Inc. (OTCQB:LIFD) has announced a prepayment of $916,666 on its $2,750,000 note payable, leaving a balance of $1,833,334. This payment was made using free cash flow generated by its subsidiary, Lifted Made. The company's President, Jake Jacobs, highlighted the team's performance in increasing cash flow while growing inventory. The CEO, Gerard Jacobs, noted the challenges in the cannabis sector but remains optimistic about the company's growth strategy based on profitable consumer products.