JACKSONVILLE, FL / ACCESSWIRE / November 14, 2022 / LFTD Partners Inc. (“LFTD Partners” or the “Company”) (OTCQB:LIFD), the corporate parent of leading cannabis and psychedelics manufacturer Lifted Made, today reported that it achieved its ninth consecutive quarter of positive earnings per share during the third quarter ended September 30, 2022, calculated in accordance with U.S. generally accepted accounting principles (“GAAP”) and in U.S. dollars.

Income Statement Highlights – Q3 2022

• Revenue of $11,237,277
• Net income of $423,486
• Basic earnings per share (“EPS”) of $0.03 per share
• Diluted EPS of $0.03
• Basic and diluted weighted average shares outstanding for the three months ended September 30, 2022 were 14,102,578 and 15,884,776, respectively

Balance Sheet Highlights – as of September 30, 2022

• Cash on hand of $4,350,959
• Inventory of $6,344,677
• Current assets of $14,616,599
• Current ratio of 2.22
• Working capital of $8,042,718
• No secured debt

Nicholas S. Warrender, Vice Chairman and COO of LFTD Partners, and founder and CEO of Lifted Made, said, “We grew our Q3 2022 sales 27% to $11.2 million, up from $8.8 million in Q3 2021. During the first nine months of 2022, we grew our sales 144% to $46.1 million, up from $18.9 million during the first nine months of 2021. We took some inventory write-offs during the third quarter of 2022, but we expect to break $60 million in annual sales during 2022, and to have another profitable quarter this quarter. Throughout our aggressive growth, we’ve stayed true to our philosophy of being nimble, innovate and hungry. I credit our operating and sales force for continuing to push our mission forward by fusing the vision of our brand with a team that’s able to execute on a dime. As great of a year this has been thus far, I believe the best is still yet to come from the Lifted team.”

Gerard M. Jacobs, CEO of LFTD Partners, said, “In addition to our hemp-derived cannabinoid and psychedelic products business, we are intensively working on an acquisition agreement with the owners of a growing US company outside of our industry that is pursuing expansion into Asia and the Middle East. If consummated, this exciting potential acquisition would significantly diversify our company’s revenues, and very likely would cause us to pursue the listing of LFTD Partners’ common stock on multiple stock exchanges.”

Earnings Conference Call and Webcast Information

LFTD Partners plans to hold a Q3 2022 earnings conference call and webcast today, November 14, 2022, at 8:30 AM ET.

Participant phone numbers:

Toll Free: 877-545-0523
International: 973-528-0016
Participant Access Code: 480030

Webcast event link:

https://www.webcaster4.com/Webcast/Page/2916/47115

The participant phone numbers and webcast event link are shown on the Investor Relations section of LFTD Partners’ website at https://www.lftdpartners.com/investors.

The webcast replay will also be available on the Investor Relations section of LFTD Partners’ website.

Although attendees will have the opportunity to submit questions during the earnings conference call, attendees are encouraged to submit questions prior to the call by emailing them to: [email protected].

About LFTD Partners Inc.

LFTD Partners Inc. (OTCQB:LIFD) is focused upon acquiring rapidly growing and profitable companies that sell branded hemp-derived cannabinoid products, emerging psychedelic products, other alternative lifestyle products, and potentially also “essential” businesses that are outside its industry. LFTD Partners’ first wholly-owned subsidiary is Lifted Made (www.LiftedMade.com), Kenosha, Wisconsin, which sells award-winning hemp-derived cannabinoid products and other psychedelic and alternative lifestyle products under its flagship brands Urb Finest Flowers and Silly Shruum. LFTD Partners also owns 4.99% of CBD-infused beverage and products maker Ablis (www.AblisBev.com), and of distillers Bendistillery Inc. d/b/a Crater Lake Spirits (www.CraterLakeSpirits.com) and Bend Spirits, Inc., all located in Bend, Oregon.

Please read LIFD’s filings with the U.S. Securities and Exchange Commission which fully describe our business and the Risk Factors associated therewith. Learn more by subscribing to our newsletters at www.LFTDPartners.com and www.LiftedMade.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this document are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes the acquisition, financing, revenue, profitability, and product strategies, plans and expectations of LFTD Partners Inc. and Lifted Made. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, most notably federal and state laws and regulations, which may cause or contribute to the actual results of these companies’ merger plans, financing plans, operations, or the performance or achievements of these companies differing materially from those expressed or implied by the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain other factors, including the risk factors set forth in LFTD Partners Inc.’s filings with the Securities and Exchange Commission. This press release does not constitute an offer to sell common stock or any other securities of LFTD Partners Inc.

CONTACTS:

Lifted Made
Attn: Nicholas S. Warrender, CEO
Phone: (224) 577-8148
Email: [email protected]
Website: www.LiftedMade.com

LFTD Partners Inc.
Attn: William C. “Jake” Jacobs, CPA, President and CFO
Phone: (847) 400-7660
Email: [email protected]
Website: www.LFTDPartners.com

LFTD Partners Inc.
Attn: Gerard M. Jacobs, CEO
Phone: (847) 915-2446
Email: [email protected]
Website: www.LFTDPartners.com

SOURCE: LFTD Partners Inc.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

POTOMAC, Md., February 10, 2022–(BUSINESS WIRE)–India Globalization Capital, Inc. (NYSE American: IGC) announces its financial results for the three months ending December 31, 2021 – quarter three of the Company’s 2022 fiscal year.

Highlights include:

• The Company appointed former congressman James Moran to its Board of Directors. During his 24 years in Congress, Moran was recognized as a champion of innovative research and development in areas including healthcare and national security, environmental protection and sustainability, and international trade and fiscal responsibility.

• The Company completed a Phase 1 clinical trial for IGC-AD1, an investigational new Tetrahydrocannabinol (THC) based drug candidate designed to treat the symptoms of Alzheimer’s disease. As previously reported, the trial analyzed the safety and efficacy of different dosages, and the results were encouraging. Patients receiving the drug showed a decrease in agitation, anxiety, depression and other Neuropsychiatric Symptoms (NPS). From the trial, we gained valuable knowledge about the impact of dosing that will be studied further in additional clinical trials, subject to FDA approval. Complete findings have been submitted in the Clinical/Statistical Report (“CSR”) filed with the FDA.

• While market conditions are subject to change, and there can be no assurances, the Company hopes and believes that, if IGC-AD1 can gain FDA approval, it can have a substantial impact on the lives of Alzheimer’s patients and their caregivers. We believe the demand for a drug that can reduce symptoms such as agitation, anxiety, and depression in Alzheimer’s patients is potentially significant. On September 17, 2021, the Company filed a patent application, IGC-513, to protect these initial trial findings.

• The Company is currently planning to proceed with additional clinical trials for IGC-AD1. We plan to submit a protocol to the FDA, for a large, double-blind, placebo-controlled Phase 2 trial to test the impact of IGC-AD1 in relieving agitation in dementia due to Alzheimer’s.

• On October 28, 2021, the Company won the Best CBD Topical award for its broad-spectrum hemp extract cream called Holi Wonder at the USA CBD Expo event held in Chicago, Illinois.

• On October 5, 2021, the Company received a Good Manufacturing Practice (GMP) certificate for its manufacturing and processing facility in Vancouver, Washington.

The Company’s financial results for the quarter ending December 31, 2021 relative to the same period a year ago:

• The Life Sciences segment, which includes the sale of hemp-based products such as lotion, gummies, and hand sanitizers was the largest revenue driver with $134 thousand in revenue for the quarter, compared to $56 thousand the year prior.

• The Infrastructure segment, which includes a construction contract, was $8 thousand in the quarter, relative to $52 thousand the year prior.

Primarily due to COVID-19, we expect volatility in both segments in the foreseeable future and it is difficult to predict when either segment will generate significant, stable revenue.

The following expense results refer to the quarters ending December 31, 2021, and December 31, 2020:

• Research and Development (R&D) expenses related to the Phase 1 clinical trial described above and product research in our Life Sciences segment was approximately $377 thousand compared to $154 thousand the year prior. We expect R&D expenses to increase with subsequent IGC-AD1 clinical trials, subject to FDA approval.

• Selling, General and Administrative (SG&A) expenses were $2.07 million in the quarter, a decrease of $116 thousand relative to $2.19 million the year prior. The SG&A decrease includes a one-time inventory-related adjustments of $245 thousand.

• Net loss was approximately $2.38 million or ($0.05) per share, compared to approximately $2.32 million or ($0.06) per share in the same quarter the prior year.

About IGC:

India Globalization Capital, Inc. (IGC), headquartered in Maryland, engages in the development of cannabinoid-based therapies for healthcare applications. IGC recently completed the first safety and tolerability clinical trial to treat symptoms of Alzheimer’s patients using a THC-based investigational new drug. The Company also operates an infrastructure business based in India. www.igcinc.us, www.igcpharma.com

Forward-Looking Statements:

This press release contains forward-looking statements that are based largely on IGC’s expectations and are subject to several risks and uncertainties, which may be beyond IGC’s control. Actual results could differ significantly from these if the Company is unable to commercialize one or more of the Company’s products or technologies, including the investigational new drug IGC-AD1 described in this press release. Other risks which could materially impact results include failure to obtain FDA approval for IGC-AD1 or additional clinical trials; unanticipated or unfavorable testing results from subsequent clinical trials; general economic conditions that are less favorable than expected; the impact of the ongoing COVID-19 pandemic; the FDA’s general position regarding cannabis- and hemp-based products; and other factors, which are discussed in IGC’s SEC filings.

IGC incorporates by reference the human trial disclosures and Risk Factors identified in its Annual Reports on Form 10-K filed with the SEC on June 14, 2021, and Quarterly Report on Form 10-Q, filed with the SEC on August 11, 2021, October 29, 2021, and February 10, 2022. Given these risks and uncertainties, we cannot assure the forward-looking information contained in this release will occur.

< Financial Tables to Follow>

These financial statements should be read in connection with the accompanying notes on Form 10-Q for the
quarter ended December 31, 2021, filed with the SEC on February 10, 2022.

These financial statements should be read in connection with the accompanying notes on Form 10-Q for the
quarter ended December 31, 2021, filed with the SEC on February 10, 2022.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005859/en/

Contacts

Claudia Grimaldi
Phone: 301-983-0998

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.