LFTD Partners Inc. Reports Q1 2023 Financial Results

JACKSONVILLE, FL / ACCESSWIRE / May 15, 2023 / LFTD Partners Inc. ("LFTD Partners" or the "Company") (OTCQB:LIFD), the corporate parent of Lifted Made, maker of the award-winning Urb and Silly Shruum brands of hemp and psychoactive products, today reported its first quarter 2023 financial results.

Nicholas S. Warrender, Vice Chairman and COO of LFTD Partners and Founder and CEO of Lifted Made, said, "We've made tremendous progress this year to position ourselves for long term growth and we generated over $12 million in top line and generated over $2 million in EBITDA in Q1. We recently entered into a five-year agreement to serve as the exclusive worldwide manufacturer and distributor of vape and gummy products for Cali Sweets in California, under the brand names Koko Puffz and Koko Yummiez. The feedback we are hearing is very positive on our new Koko branded product launches. We also recently entered into a multi-year agreement with Diamond Supply Co. in California, to serve as the exclusive worldwide manufacturer of Diamond-branded hemp-derived products. Diamond is a leading brand in skateboarding and streetwear. Nick Tershay, founder of Diamond is a true visionary in the counterculture space, working with top brands and artists like Nike, Modelo, DJ Khaled, Travis Scott, and many more. We're thrilled to add Urb to that list and bring fresh eyes and innovation to the cannabinoid market. We just recently closed on the acquisition of Oculus CRS, which has been a valuable supplier of high quality, award-winning, packaged flower products, such as joints and blunts."

Income Statement Highlights - Q1 2023 Compared to Q1 2022:

• Revenue decreased 31% to $12,461,793, down from $18,088,877
• One-time, non-cash employee stock compensation expense of $2,138,175, up from $0
• Net loss of $141,742, down from net income of $2,944,793
• Basic net loss per common share of $0.01 per share, down from $0.21 basic net income per common share
• Diluted net loss per common share of $0.01 per share, down from $0.18 diluted net income per common share
• Basic and diluted weighted average shares outstanding for the three months ended March 31, 2023 were 14,246,745 and 14,246,745, respectively

Balance Sheet Highlights - March 31, 2023 Compared to December 31, 2022: