LFTD Partners Subsidiary Lifted Made Enters New Sales & Marketing Agreement
Ticker: LIFD · Form: 8-K · Filed: Jan 29, 2024 · CIK: 1391135
Complexity: simple
Sentiment: neutral
Topics: agreement, subsidiary, business-development
TL;DR
**LFTD Partners' subsidiary, Lifted Made, just signed a new sales and marketing deal, signaling potential growth.**
AI Summary
On January 23, 2024, LFTD Partners Inc.'s wholly owned subsidiary, Lifted Liquids, Inc. (doing business as Lifted Made), entered into a Manufacturing Sales and Marketing Agreement, effective January 20, 2024. This agreement is an 'Other Event' reported under Item 8.01 of the 8-K filing. This matters to investors as it signals potential new business activities or partnerships for Lifted Made, which could impact future revenue and growth for LFTD Partners Inc.
Why It Matters
This agreement could lead to new product lines, expanded market reach, or increased sales for Lifted Made, directly influencing LFTD Partners Inc.'s financial performance.
Risk Assessment
Risk Level: low — The filing reports a new agreement, which is generally a positive or neutral event, with no immediate indication of significant risk.
Analyst Insight
A smart investor would monitor future filings or press releases from LFTD Partners Inc. for more details about the Manufacturing Sales and Marketing Agreement, including the counterparty and the expected impact on revenue and operations, to assess its potential for growth.
Key Players & Entities
- LFTD Partners Inc. (company) — the registrant filing the 8-K
- Lifted Liquids, Inc. (company) — wholly owned subsidiary of LFTD Partners Inc.
- Lifted Made (company) — doing business name for Lifted Liquids, Inc.
- January 23, 2024 (date) — date the agreement was entered into
- January 20, 2024 (date) — effective date of the Manufacturing Sales and Marketing Agreement
Forward-Looking Statements
- LFTD Partners Inc. will announce details of the counterparty to the Manufacturing Sales and Marketing Agreement. (LFTD Partners Inc.) — medium confidence, target: 2024-04-30
- The new agreement will contribute to an increase in Lifted Made's revenue in the next fiscal quarter. (Lifted Made) — low confidence, target: 2024-06-30
FAQ
What is the specific type of agreement LFTD Partners Inc.'s subsidiary entered into?
LFTD Partners Inc.'s wholly owned subsidiary, Lifted Liquids, Inc. (doing business as Lifted Made), entered into a Manufacturing Sales and Marketing Agreement.
When was the Manufacturing Sales and Marketing Agreement entered into and when did it become effective?
The Manufacturing Sales and Marketing Agreement was entered into on or about January 23, 2024, and became effective as of January 20, 2024.
Which subsidiary of LFTD Partners Inc. is involved in this agreement?
Lifted Liquids, Inc., doing business as Lifted Made, a wholly owned subsidiary of LFTD Partners Inc., is involved in this agreement.
Under which item of the Form 8-K is this event reported?
This event is reported under Item 8.01, 'Other Events,' of the Form 8-K.
What is the business address listed for LFTD Partners Inc. in the filing?
The business address listed for LFTD Partners Inc. is 14155 Pine Island Drive, Jacksonville, FL 32224.
Filing Stats: 2,181 words · 9 min read · ~7 pages · Grade level 16.3 · Accepted 2024-01-29 16:15:36
Key Financial Figures
- $1,000,000 — eral Liability Insurance with limits of $1,000,000 per occurrence and $2,000,000 in aggreg
- $2,000,000 — limits of $1,000,000 per occurrence and $2,000,000 in aggregate; (2) Worker's Compensation
Filing Documents
- lsfp-20240123.htm (8-K) — 34KB
- 0001096906-24-000119.txt ( ) — 163KB
- lsfp-20240123_def.xml (EX-101.DEF) — 2KB
- lsfp-20240123_lab.xml (EX-101.LAB) — 20KB
- lsfp-20240123_pre.xml (EX-101.PRE) — 13KB
- lsfp-20240123.xsd (EX-101.SCH) — 2KB
- lsfp-20240123_htm.xml (XML) — 2KB
01 Other Events
Item 8.01 Other Events. On or about January 23, 2024, Lifted Liquids, Inc. doing business as Lifted Made ("Lifted Made"), a wholly owned subsidiary of LFTD Partners Inc., entered into a Manufacturing Sales and Marketing Agreement effective as of January 20, 2024 ("Agreement") with a wholly owned subsidiary of a large, publicly traded marijuana company that designs and sells hemp derived vape and gummy products. The Agreement is similar in many respects with two other manufacturing sales and marketing agreements entered into by Lifted Made in 2023. Our management believes that neither of the relationships with the two other collaborating companies have had a significant impact on our revenues as gross sales under neither agreement has increased Lifted Made's revenues by more than 5%. There is no assurance that this new Agreement, with this new counterparty, will have a greater impact on our revenues than the relationships with the others; however, it may. Services to be Provided by Lifted Made Under the terms of the new Agreement with this new counterparty, the parties ("Parties") have agreed that Lifted Made will serve as the exclusive manufacturer and distributor of certain 2018 Farm Bill compliant hemp derived vape products and gummy products in the formulations and to the specifications mutually agreed upon by the Parties (the "Products"). The territory for the sale of the Products is limited to the United States of Ameria ("Territory"). In addition to serving as exclusive manufacturer and distributor of the Products, Lifted Made will be responsible to sell the Products to customers ("Customers"), and to collect all payments from such Customers for the Products in the Territory during the Term (the "Services"). Lifted Made, in its capacity as the exclusive manufacturer and distributor of the Products in the Territory during the Term, shall be an independent contractor and not an agent, representative or employee of the other party. As part of the Services
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. LFTD PARTNERS INC.. /s/ Gerard M. Jacobs Gerard M. Jacobs Chief Executive Officer Dated: January 29, 2024 4