2024 Q1 Form 10-K Financial Statement

#000109690624000671 Filed on March 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $10.67M $13.52M $51.61M
YoY Change -14.41% 19.5% -10.11%
Cost Of Revenue $7.283M $9.692M $31.91M
YoY Change 6.89% 32.99% -12.4%
Gross Profit $3.384M $3.828M $19.70M
YoY Change -40.09% -4.92% -6.14%
Gross Profit Margin 31.73% 28.31% 38.18%
Selling, General & Admin $2.443M $2.834M $9.869M
YoY Change -5.86% 44.18% 22.55%
% of Gross Profit 72.2% 74.03% 50.09%
Research & Development $19.80K
YoY Change 0.0%
% of Gross Profit 0.1%
Depreciation & Amortization $125.8K $130.2K $425.6K
YoY Change 61.56% 105.52% 122.21%
% of Gross Profit 3.72% 3.4% 2.16%
Operating Expenses $3.506M $4.345M $17.29M
YoY Change -39.05% 31.3% 54.68%
Operating Profit -$122.3K -$517.1K $2.410M
YoY Change 16.64% -172.15% -75.44%
Interest Expense $92.85K -$19.85K $110.5K
YoY Change 283.88% 21.11% -8.05%
% of Operating Profit 4.59%
Other Income/Expense, Net $435.8K -$550.00 $2.802M
YoY Change -4622.14% 1445.87%
Pretax Income -$1.539M -$56.22K $2.757M
YoY Change 1243.83% -106.31% -72.41%
Income Tax $398.0K -$79.86K $598.1K
% Of Pretax Income 21.69%
Net Earnings -$1.141M $23.64K $2.159M
YoY Change 704.99% -96.12% -70.0%
Net Earnings / Revenue -10.7% 0.17% 4.18%
Basic Earnings Per Share -$0.08 $0.15
Diluted Earnings Per Share -$0.08 $0.00 $0.13
COMMON SHARES
Basic Shares Outstanding 14.81M shares 14.81M shares 14.56M shares
Diluted Shares Outstanding 14.81M shares 16.44M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.376M $4.358M $4.358M
YoY Change 26.11% 23.42% 23.42%
Cash & Equivalents $4.376M $4.358M $4.358M
Short-Term Investments
Other Short-Term Assets $27.12K $2.664K $2.891M
YoY Change 23900.0% -92.4% 53.05%
Inventory $7.659M $10.17M $10.17M
Prepaid Expenses $1.340M $2.510M
Receivables $3.901M $3.586M $3.586M
Other Receivables $680.4K $659.4K $659.4K
Total Short-Term Assets $18.47M $21.67M $21.67M
YoY Change 23.74% 56.41% 56.41%
LONG-TERM ASSETS
Property, Plant & Equipment $2.889M $2.996M $3.623M
YoY Change 118.5% 193.69% 29.81%
Goodwill $23.09M $23.09M
YoY Change 3.59% 3.59%
Intangibles
YoY Change
Long-Term Investments $1.896M $1.896M $1.896M
YoY Change 0.0% 0.0% 0.0%
Other Assets $1.441M $1.065M $1.065M
YoY Change 254.08% 257.46% 257.46%
Total Long-Term Assets $29.90M $29.68M $29.68M
YoY Change 7.48% 8.8% 8.8%
TOTAL ASSETS
Total Short-Term Assets $18.47M $21.67M $21.67M
Total Long-Term Assets $29.90M $29.68M $29.68M
Total Assets $48.37M $51.35M $51.35M
YoY Change 13.16% 24.83% 24.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.453M $6.177M $6.177M
YoY Change 28.64% 52.43% 52.43%
Accrued Expenses $183.9K $188.2K $188.2K
YoY Change 24.09% 59.9% 59.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $519.5K $506.1K $506.1K
YoY Change -61.9% -62.72% -62.72%
Total Short-Term Liabilities $7.055M $8.687M $8.687M
YoY Change 23.49% 39.88% 39.88%
LONG-TERM LIABILITIES
Long-Term Debt $3.213M $3.349M $3.349M
YoY Change
Other Long-Term Liabilities $428.3K $463.6K $463.6K
YoY Change -15.0% 20.6% 20.6%
Total Long-Term Liabilities $3.641M $3.842M $3.812M
YoY Change 622.7% 899.41% 891.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.055M $8.687M $8.687M
Total Long-Term Liabilities $3.641M $3.842M $3.812M
Total Liabilities $10.70M $12.53M $12.53M
YoY Change 72.05% 89.98% 89.98%
SHAREHOLDERS EQUITY
Retained Earnings -$3.241M -$2.097M
YoY Change -26.09% -50.53%
Common Stock $14.81K $14.81K
YoY Change 2.02% 4.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $37.67M $38.82M $38.82M
YoY Change
Total Liabilities & Shareholders Equity $48.37M $51.35M $51.35M
YoY Change 13.16% 24.83% 24.83%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$1.141M $23.64K $2.159M
YoY Change 704.99% -96.12% -70.0%
Depreciation, Depletion And Amortization $125.8K $130.2K $425.6K
YoY Change 61.56% 105.52% 122.21%
Cash From Operating Activities $178.6K -$104.1K $638.9K
YoY Change -45.74% -79.15% -78.96%
INVESTING ACTIVITIES
Capital Expenditures $31.84K $1.427M $789.7K
YoY Change -91.37% 449.48% -13.8%
Acquisitions $342.1K
YoY Change
Other Investing Activities $0.00 -$342.1K
YoY Change
Cash From Investing Activities -$31.84K -$1.427M -$2.517M
YoY Change -108.63% 449.48% 174.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$128.2K 3.807M $3.705M
YoY Change 512.64% -6298.03% -2015.53%
NET CHANGE
Cash From Operating Activities $178.6K -104.1K $638.9K
Cash From Investing Activities -$31.84K -1.427M -$2.517M
Cash From Financing Activities -$128.2K 3.807M $3.705M
Net Change In Cash $18.65K 2.276M $1.827M
YoY Change -97.25% -377.46% -5.24%
FREE CASH FLOW
Cash From Operating Activities $178.6K -$104.1K $638.9K
Capital Expenditures $31.84K $1.427M $789.7K
Free Cash Flow $146.8K -$1.531M -$150.7K
YoY Change -470.89% 101.78% -107.11%

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PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2023 lsfp Reduction Of Cbd Lion Note Receivable
ReductionOfCbdLionNoteReceivable
0 usd
CY2022 lsfp Reduction Of Cbd Lion Note Receivable
ReductionOfCbdLionNoteReceivable
0 usd
CY2021 lsfp Reduction Of Cbd Lion Note Receivable
ReductionOfCbdLionNoteReceivable
15318 usd
CY2023 us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
1385225 usd
CY2022 us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
0 usd
CY2021 us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
0 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
789662 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
916119 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
368223 usd
CY2023 lsfp Loans To Smplylifted Llc
LoansToSmplyliftedLlc
0 usd
CY2022 lsfp Loans To Smplylifted Llc
LoansToSmplyliftedLlc
0 usd
CY2023 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
14961 usd
CY2021 lsfp Loans To Smplylifted Llc
LoansToSmplyliftedLlc
93750 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2516955 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-916119 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-446655 usd
CY2023 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
3910000 usd
CY2022 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
0 usd
CY2021 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
0 usd
CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
142023 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
252 usd
CY2022 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
17147 usd
CY2021 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
199189 usd
CY2023 lsfp Payments Of Dividends To Series B Convertible Preferred Stockholders
PaymentsOfDividendsToSeriesBConvertiblePreferredStockholders
6000 usd
CY2022 lsfp Payments Of Dividends To Series B Convertible Preferred Stockholders
PaymentsOfDividendsToSeriesBConvertiblePreferredStockholders
6002 usd
CY2021 lsfp Payments Of Dividends To Series B Convertible Preferred Stockholders
PaymentsOfDividendsToSeriesBConvertiblePreferredStockholders
11844 usd
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
115697 usd
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 usd
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 usd
CY2023 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 usd
CY2022 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
2750000 usd
CY2021 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 usd
CY2023 lsfp Repayment Of Borrowings Under Notes Payables
RepaymentOfBorrowingsUnderNotesPayables
0 usd
CY2022 lsfp Repayment Of Borrowings Under Notes Payables
RepaymentOfBorrowingsUnderNotesPayables
-2750000 usd
CY2021 lsfp Repayment Of Borrowings Under Notes Payables
RepaymentOfBorrowingsUnderNotesPayables
-3750000 usd
CY2023 lsfp Repayment Of Interest Payable To Related Parties
RepaymentOfInterestPayableToRelatedParties
0 usd
CY2022 lsfp Repayment Of Interest Payable To Related Parties
RepaymentOfInterestPayableToRelatedParties
0 usd
CY2021 lsfp Repayment Of Interest Payable To Related Parties
RepaymentOfInterestPayableToRelatedParties
-138904 usd
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
150000 usd
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
34200 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
68396 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
70267 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
20444 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3704945 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-193416 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4012306 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1826916 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1927892 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1163651 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3530623 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1602731 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
439080 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5357539 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3530623 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1602731 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
91717 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
85615 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
54364 usd
CY2023 lsfp Cash Paid For Interest Related Party
CashPaidForInterestRelatedParty
0 usd
CY2022 lsfp Cash Paid For Interest Related Party
CashPaidForInterestRelatedParty
47851 usd
CY2021 lsfp Cash Paid For Interest Related Party
CashPaidForInterestRelatedParty
138904 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1167028 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3672616 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
455083 usd
CY2023 lsfp Right Of Use Assets Acquired From Inception Of Finance Leases
RightOfUseAssetsAcquiredFromInceptionOfFinanceLeases
0 usd
CY2022 lsfp Right Of Use Assets Acquired From Inception Of Finance Leases
RightOfUseAssetsAcquiredFromInceptionOfFinanceLeases
0 usd
CY2021 lsfp Right Of Use Assets Acquired From Inception Of Finance Leases
RightOfUseAssetsAcquiredFromInceptionOfFinanceLeases
1480408 usd
CY2023 lsfp Right Of Use Assets Acquired From Inception Of Operating Leases
RightOfUseAssetsAcquiredFromInceptionOfOperatingLeases
296209 usd
CY2022 lsfp Right Of Use Assets Acquired From Inception Of Operating Leases
RightOfUseAssetsAcquiredFromInceptionOfOperatingLeases
514278 usd
CY2021 lsfp Right Of Use Assets Acquired From Inception Of Operating Leases
RightOfUseAssetsAcquiredFromInceptionOfOperatingLeases
83219 usd
CY2023 lsfp Conversion Of Series A And Series B Preferred Stock To Common Stock
ConversionOfSeriesAAndSeriesBPreferredStockToCommonStock
200 usd
CY2022 lsfp Conversion Of Series A And Series B Preferred Stock To Common Stock
ConversionOfSeriesAAndSeriesBPreferredStockToCommonStock
125 usd
CY2021 lsfp Conversion Of Series A And Series B Preferred Stock To Common Stock
ConversionOfSeriesAAndSeriesBPreferredStockToCommonStock
6100 usd
CY2023 lsfp Cashless Exercise Of Warrants
CashlessExerciseOfWarrants
0 usd
CY2022 lsfp Cashless Exercise Of Warrants
CashlessExerciseOfWarrants
0 usd
CY2021 lsfp Cashless Exercise Of Warrants
CashlessExerciseOfWarrants
136 usd
CY2023 lsfp Cancellation Of Common Stock Held In Treasury
CancellationOfCommonStockHeldInTreasury
0 usd
CY2022 lsfp Cancellation Of Common Stock Held In Treasury
CancellationOfCommonStockHeldInTreasury
0 usd
CY2021 lsfp Cancellation Of Common Stock Held In Treasury
CancellationOfCommonStockHeldInTreasury
68400 usd
CY2023 lsfp Reduction In Bonus Payable To Gerard M Jacobs By The Cost Of Exercising Warrants
ReductionInBonusPayableToGerardMJacobsByTheCostOfExercisingWarrants
0 usd
CY2022 lsfp Reduction In Bonus Payable To Gerard M Jacobs By The Cost Of Exercising Warrants
ReductionInBonusPayableToGerardMJacobsByTheCostOfExercisingWarrants
0 usd
CY2021 lsfp Reduction In Bonus Payable To Gerard M Jacobs By The Cost Of Exercising Warrants
ReductionInBonusPayableToGerardMJacobsByTheCostOfExercisingWarrants
8439 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
4357539 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3530623 usd
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1602731 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1000000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
0 usd
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
0 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5357539 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3530623 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1602731 usd
CY2023 lsfp Scheduleofworkingcapitalandbusinessloanstable Textblock
ScheduleofworkingcapitalandbusinessloanstableTextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>December 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2023 </strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>2022</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Working Capital Loan </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">3,000,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Business Loan</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">910,000</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Total principal amount</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">3,910,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Less: Unamortized debt financing costs</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(55,149</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px">) </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Less: Current portion of Surety Bank notes</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">(506,061</td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px">) </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Non-Current portion of Surety Bank notes</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: black 3px double;width:9%;vertical-align:bottom;text-align:right;">3,348,790</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 3px double;"><p style="font-size:10pt;font-family:times new roman;margin:0px">$</p></td><td style="BORDER-BOTTOM: black 3px double;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">-</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2023Q4 lsfp Working Capital Loan
WorkingCapitalLoan
3000000 usd
CY2022Q4 lsfp Working Capital Loan
WorkingCapitalLoan
0 usd
CY2023Q4 lsfp Business Loan Current
BusinessLoanCurrent
910000 usd
CY2022Q4 lsfp Business Loan Current
BusinessLoanCurrent
0 usd
CY2023Q4 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
3910000 usd
CY2022Q4 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
0 usd
CY2023Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
55149 usd
CY2022Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
0 usd
CY2023Q4 us-gaap Senior Notes Current
SeniorNotesCurrent
506061 usd
CY2022Q4 us-gaap Senior Notes Current
SeniorNotesCurrent
0 usd
CY2023Q4 lsfp Non Current Portion Of Surety Bank Notes
NonCurrentPortionOfSuretyBankNotes
3348790 usd
CY2022Q4 lsfp Non Current Portion Of Surety Bank Notes
NonCurrentPortionOfSuretyBankNotes
0 usd
CY2023 lsfp Scheduleofpaymentsdueontheworkingcapital Table Textblock
ScheduleofpaymentsdueontheworkingcapitalTableTextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><em>Maturity Analysis:</em></p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="MARGIN: 0px;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">2024</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">876,939</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">2025</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">876,939</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">2026</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">876,939</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">2027</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">876,939</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">2028</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,618,429</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Thereafter</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Total</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">5,126,185</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Less: interest port ion</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(1,216,185</td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Total principal amount</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: black 3px double;width:9%;vertical-align:bottom;text-align:right;">3,910,000</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
876939 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
876939 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
876939 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
876939 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1618429 usd
CY2023Q4 lsfp Long Term Debt Maturities Repayments Of Principal Therafter
LongTermDebtMaturitiesRepaymentsOfPrincipalTherafter
0 usd
CY2023Q4 lsfp Total Longtermdebtmaturitiesprincipalamount
TotalLongtermdebtmaturitiesprincipalamount
5126185 usd
CY2023Q4 us-gaap Minority Interest
MinorityInterest
-1216185 usd
CY2023Q4 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
3910000 usd
CY2023 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
100 shares
CY2023 lsfp Description Of Loans To The Brrower
DescriptionOfLoansToTheBrrower
Merger consideration equal to five times the Incremental Pre-Tax Profits, provided that (a) 20% of such second installment of Merger consideration shall be paid in the form of cash, (b) 80% of such second installment of Merger consideration shall be paid in the form of unregistered shares of common stock of LIFD, which unregistered shares of common stock of LIFD shall be valued at $5 per share regardless of whether LIFD’s common stock is then trading at a price that is lower or higher than $5 per share, and (c) such second installment of Merger consideration shall be subject to a minimum value of $1 million dollars (“Minimum Earnout Consideration”) and a maximum value of $6 million dollars (with the stock portion of the second installment of Merger consideration being valued at $5 per share under all circumstances)
CY2023Q4 lsfp Cash Used To Pay Off Oculus Liabilties
CashUsedToPayOffOculusLiabilties
368488 usd
CY2023Q4 lsfp Installment Of Merger Consideration
InstallmentOfMergerConsideration
209 usd
CY2023Q4 lsfp Value Of Minimum Consideration To Be Paid In Cash
ValueOfMinimumConsiderationToBePaidInCash
200000 usd
CY2023Q4 lsfp Value Of Minimum Consideration To Be Paid In Shares Of Common Stock
ValueOfMinimumConsiderationToBePaidInSharesOfCommonStock
800000 usd
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
1368697 usd
CY2023Q4 lsfp Acquired Cash
AcquiredCash
26420 usd
CY2023Q4 lsfp Accounts Receivable Acquired
AccountsReceivableAcquired
60528 usd
CY2023Q4 lsfp Inventory Acquired Net
InventoryAcquiredNet
147431 usd
CY2023Q4 lsfp Fixed Assets Acquired
FixedAssetsAcquired
329559 usd
CY2023Q4 lsfp Security And Utility Deposits Acquired
SecurityAndUtilityDepositsAcquired
4732 usd
CY2023Q4 lsfp Goodwill Acquired
GoodwillAcquired
800027 usd
CY2023Q4 lsfp Current Assets Acquired
CurrentAssetsAcquired
1368697 usd
CY2023Q4 lsfp Total Liabilities Assumed Acquired
TotalLiabilitiesAssumedAcquired
0 usd
CY2023Q4 lsfp Assets Acquired
AssetsAcquired
1368697 usd
CY2023 lsfp Description Of Agreement Term
DescriptionOfAgreementTerm
The term of the Agreement is eighteen (18) months from the effective date, renewable upon mutual written agreement of the Parties
CY2023 lsfp Description Of Commercial General Liability Insurance
DescriptionOfCommercialGeneralLiabilityInsurance
Such coverage shall include (1) Comprehensive Commercial General Liability Insurance with limits of $1,000,000 per occurrence and $2,000,000 in aggregate; (2) Worker’s Compensation Insurance in limits required by applicable law; and (3) Product Liability Insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 in aggregate. GL and Product Liability policies shall name the other Party as an additionally insured party
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Use of Estimates</em></strong> – The preparation of financial statements in conformity with US Generally Accepted Accounting Principles (“US GAAP”) typically requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions. Key estimates in these financial statements include the allowance for doubtful accounts, sales allowance, estimated useful lives of property, plant and equipment, valuation allowance on deferred income tax assets, the earnout liability pursuant to the Oculus Merger Agreement, and the fair value of stock options and warrants. </p>
CY2023 lsfp Description Of Quarterly Amortized Amount
DescriptionOfQuarterlyAmortizedAmount
Lifted received $33,427 more credits than was expected/agreed to per the agreement ($185,024 per year for 2023 and 2024); as such, Lifted’s revised credit going into 2024 was $151,597, and this is amortized quarterly at the rate of $37,899 per quarter
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023 lsfp Increase Decreases In Restricted Cash
IncreaseDecreasesInRestrictedCash
1000000 usd
CY2022 lsfp Increase Decreases In Restricted Cash
IncreaseDecreasesInRestrictedCash
1000000 usd
CY2023 us-gaap Accounts Receivable Sale
AccountsReceivableSale
3586176 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
375417 usd
CY2022 us-gaap Accounts Receivable Sale
AccountsReceivableSale
2410327 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
281762 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
4962652 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3407196 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5212015 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2616771 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
10174667 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
6023967 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
338582 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
127485 usd
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
2056603 usd
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
4418922 usd
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
338799 usd
CY2022 lsfp Description Of Agreement For The Forgiveness Of Payables
DescriptionOfAgreementForTheForgivenessOfPayables
On December 30, 2022, Lifted was able to reach an agreement for the forgiveness of $630,000 of payables owed to its third-party disposable vape device manufacturer. The agreement also includes credits to Lifted against future purchases from the device manufacturer totaling $370,047. The credit is to be provided by the manufacturer at the rate of $46,255.87 per quarter beginning with the first quarter of 2023 and continuing for the next six consecutive quarters, with a final quarterly credit of $46,255.91 for the fourth quarter of 2024. The agreement is a result of the vape manufacturer agreeing to share a portion of the Company’s prior $2,313,902 write-off of certain 2 mL disposable vapes that were written off due to clogging issues
CY2022 lsfp Accrued Liabilities And Cost Of Good Sold
AccruedLiabilitiesAndCostOfGoodSold
485496 usd
CY2022Q4 lsfp Amount Booked For Assets
AmountBookedForAssets
370047 usd
CY2023 lsfp Other Income Amortized Amount Per Quarter
OtherIncomeAmortizedAmountPerQuarter
46256 usd
CY2023 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2023Q4 lsfp Fixed Assets Capitalized
FixedAssetsCapitalized
2500 usd
CY2022Q4 lsfp Fixed Assets Capitalized
FixedAssetsCapitalized
2500 usd
CY2023Q4 lsfp Sales Allowanceforaccountsreceivable
SalesAllowanceforaccountsreceivable
635098 usd
CY2022Q4 lsfp Sales Allowanceforaccountsreceivable
SalesAllowanceforaccountsreceivable
939496 usd
CY2023 us-gaap Revenues
Revenues
51610562 usd
CY2023 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2022 us-gaap Revenues
Revenues
57416535 usd
CY2022 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2021 us-gaap Revenues
Revenues
31656932 usd
CY2021 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2023 us-gaap Revenues
Revenues
51610562 usd
CY2023 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2022 us-gaap Revenues
Revenues
57416535 usd
CY2022 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2021 us-gaap Revenues
Revenues
31656932 usd
CY2021 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2023 us-gaap Revenues
Revenues
51610562 usd
CY2022 us-gaap Revenues
Revenues
57416535 usd
CY2022 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2021 us-gaap Revenues
Revenues
31656932 usd
CY2021 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2023 us-gaap Revenues
Revenues
51610562 usd
CY2023 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2022 us-gaap Revenues
Revenues
57416535 usd
CY2022 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2021 us-gaap Revenues
Revenues
31656932 usd
CY2021 lsfp Revenue Percentage
RevenuePercentage
1 pure
CY2023 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Deferred Revenue</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Amounts received from a customer before the purchased product is shipped to the customer are treated as deferred revenue. If cash is not received, an accounts receivable is recognized for the invoiced order, but revenue is not recognized until the order is fully shipped. Accounts receivable include amounts associated with partially shipped orders, for which the unshipped portion is a contract asset. Contract assets represent invoiced but unfulfilled performance obligations. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px">At December 31, 2021, total deferred revenue was $2,174,393, all of which was recognized as revenue in 2022.  At December 31, 2022, total deferred revenue was $594,086, all of which was recognized as revenue in 2023. At December 31, 2023, total deferred revenue was $235,891, all of which is expected to be recognized as revenue in 2024. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The table shown below represents the composition of deferred revenue between contract assets (invoiced but unfulfilled performance obligations) and deposits from customers from unfulfilled orders as of December 31, 2023 and December 31, 2022.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;margin-left:auto;margin-right:auto;width:92%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;"><strong>December 31, 2023</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;"><strong>December 31, 2022</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;"><strong>Contract Assets (invoiced but unfulfilled performance obligations)</strong></p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">131,304</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">224,141</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;"><strong>Deposits from customers for unfulfilled orders</strong></p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">104,586</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">369,945</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;"><strong>Total Deferred Revenue</strong></p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">235,891</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">594,086</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2021 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
2174393 usd
CY2022 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
594086 usd
CY2023 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
235891 usd
CY2023Q4 lsfp Contract Assets Invoiced But Unfulfilled Performance Obligations
ContractAssetsInvoicedButUnfulfilledPerformanceObligations
131304 usd
CY2022Q4 lsfp Contract Assets Invoiced But Unfulfilled Performance Obligations
ContractAssetsInvoicedButUnfulfilledPerformanceObligations
224141 usd
CY2023Q4 lsfp Deposits From Customers For Unfulfilled Orders
DepositsFromCustomersForUnfulfilledOrders
104586 usd
CY2022Q4 lsfp Deposits From Customers For Unfulfilled Orders
DepositsFromCustomersForUnfulfilledOrders
369945 usd
CY2023Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
235891 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
594086 usd
CY2023 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
31906278 usd
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
36423246 usd
CY2021 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
15715759 usd
CY2023 lsfp Cost Of Goods Sold Of Inventry Write Down
CostOfGoodsSoldOfInventryWriteDown
2056603 usd
CY2022 lsfp Cost Of Goods Sold Of Inventry Write Down
CostOfGoodsSoldOfInventryWriteDown
4418922 usd
CY2021 lsfp Cost Of Goods Sold Of Inventry Write Down
CostOfGoodsSoldOfInventryWriteDown
338799 usd
CY2023 us-gaap Operating Expenses
OperatingExpenses
17294095 usd
CY2022 us-gaap Operating Expenses
OperatingExpenses
11180562 usd
CY2021 us-gaap Operating Expenses
OperatingExpenses
8160290 usd
CY2023 us-gaap Other Noncash Income
OtherNoncashIncome
3825162 usd
CY2022 us-gaap Other Noncash Income
OtherNoncashIncome
2159007 usd
CY2023 lsfp Collab Commission And Royalty Expense
CollabCommissionAndRoyaltyExpense
1733800 usd
CY2023 us-gaap Other Expenses
OtherExpenses
2801960 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
2159007 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
7196327 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
5799982 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14555279 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14080729 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11402639 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16439477 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15862927 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13359837 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2023 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
951266 usd
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
662494 usd
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
337044 usd
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Reclassifications</em></strong> – Some items from the prior period have been reclassified within the financial statements to conform with the current presentation.</p>
CY2023 lsfp Accountingforoperatingandfinanceleaserightofuseassets Policy Textblock
AccountingforoperatingandfinanceleaserightofuseassetsPolicyTextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><em>Accounting for Operating and Finance Lease Right-of-Use Assets </em></strong>– In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, “Leases” (Topic 842) (“ASU 2016-02”). The amended guidance, which is effective for the Company on January 1, 2019, requires the recognition of lease assets and lease liabilities on the balance sheet for those leases with terms in excess of 12 months and currently classified as operating leases. Leases with an initial term of one year or less are not recorded on the balance sheet; lease expense for these types of leases are recognized on a straight-line basis over the lease term.  Options to extend or terminate a lease are not included in the determination of the right-of-use asset or lease liability unless it is reasonably certain to be exercised.  Lifted adopted ASU 2016-02 using the modified retrospective approach, electing the package of practical expedients.</p>
CY2023 lsfp Accountingforgoodwill Policytextblock
AccountingforgoodwillPolicytextblock
<p style="font-size:10pt;font-family:times new roman;margin:0px"><strong><em>Accounting for Goodwill</em></strong> – Goodwill represents the future economic benefit arising from other assets acquired that could not be individually identified and separately recognized. The goodwill arising from the Company’s acquisitions is attributable to the value of the potential expanded market opportunity with new customers. </p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px">Goodwill is not amortized but is subject to annual impairment testing unless circumstances dictate more frequent assessments. The Company performs an annual impairment assessment for goodwill during the fourth quarter of each year and more frequently whenever events or changes in circumstances indicate that the fair value of the asset may be less than the carrying amount. Goodwill impairment testing is a two-step process performed at the reporting unit level. Step one compares the fair value of the reporting unit to its carrying amount. The fair value of the reporting unit is determined by using the income approach. Under the income approach, the Company determines fair value based on estimated future cash flows of the reporting unit, which are discounted to the present value using discount factors that consider the timing and risk of cash flows and other factors. For the discount rate, the Company considered the current market interest rates, including the interest rates on the Company’s recently closed loans from Surety Bank, the Company’s risk relative to the overall market, the Company’s size and industry and other Company-specific risks. Other significant assumptions used in the income approach include the terminal value, growth rates, future capital expenditures and changes in future working capital requirements. If the fair value of the reporting unit is greater than its carrying amount, there is no impairment. If the reporting unit’s carrying amount exceeds its fair value, then the second step must be completed to measure the amount of impairment, if any. Step two calculates the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the fair value of the reporting unit as calculated in step one. In this step, the fair value of the reporting unit is allocated to all of the reporting unit’s assets and liabilities in a hypothetical purchase price allocation as if the reporting unit had been acquired on that date. If the carrying amount of goodwill exceeds the implied fair value of goodwill, an impairment loss is recognized in an amount equal to the excess. </p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px">Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including revenue growth rates, strategic plans, and future market conditions, among others. There can be no assurance that the Company’s estimates and assumptions made for purposes of the goodwill impairment testing will prove to be accurate predictions of the future. Changes in assumptions and estimates could cause the Company to perform an impairment test prior to scheduled annual impairment tests. </p>
CY2022Q4 lsfp Employee Retention Tax Credit Gross
EmployeeRetentionTaxCreditGross
233534 usd
CY2022Q4 us-gaap Professional Fees
ProfessionalFees
58384 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2096780 usd
CY2023 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.03 pure
CY2022Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1556055 usd
CY2023 lsfp Earnings Per Share Diluted Common Stock
EarningsPerShareDilutedCommonStock
0.56
CY2023Q4 lsfp Additional Bonus
AdditionalBonus
500000 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
166667 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
19800 usd
CY2023 lsfp Concentration Risk Percentage One
ConcentrationRiskPercentageOne
0.25 pure
CY2022 lsfp Concentration Risk Percentage One
ConcentrationRiskPercentageOne
0.31 pure
CY2021 lsfp Concentration Risk Percentage One
ConcentrationRiskPercentageOne
0.28 pure
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3589918 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1229398 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
593531 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
209143 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2996387 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1020255 usd
CY2023 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
218882 usd
CY2022 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
68411 usd
CY2021 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
19562 usd
CY2021Q4 lsfp Loan To Smplylifted Llc
LoanToSmplyliftedLlc
387500 usd
CY2021Q4 us-gaap Receivable With Imputed Interest Net Amount
ReceivableWithImputedInterestNetAmount
580 usd
CY2023 lsfp Finite Lived Intangible Assets Useful Life
FiniteLivedIntangibleAssetsUsefulLife
P32M
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
1386 usd
CY2021 us-gaap Adjustment For Amortization
AdjustmentForAmortization
1668 usd
CY2023 us-gaap Sublease Income
SubleaseIncome
3000 usd
CY2023 lsfp Schedule Of Rent Payment Of Building Next Twelve Months
ScheduleOfRentPaymentOfBuildingNextTwelveMonths
5740 usd
CY2023 lsfp Schedule Of Rent Payment Of Building Year One
ScheduleOfRentPaymentOfBuildingYearOne
5855 usd
CY2023 lsfp Schedule Of Rent Payment Of Building Year Two
ScheduleOfRentPaymentOfBuildingYearTwo
5972 usd
CY2023 lsfp Schedule Of Rent Payment Of Building Year Three
ScheduleOfRentPaymentOfBuildingYearThree
6092 usd
CY2023 lsfp Schedule Of Rent Payment Of Building Year Four
ScheduleOfRentPaymentOfBuildingYearFour
6213 usd
CY2023 lsfp Omnibus Agreement Description
OmnibusAgreementDescription
an aggregate of $500,000 in bonuses shall be paid by the Company to GJacobs and WJacobs. This aggregate of $500,000 in bonuses to GJacobs and WJacobs is in addition to the $300,000 bonus payable to WJacobs described in the preceding section. On February 14, 2022, pursuant to the Amended Omnibus Agreement, this $500,000 was recharacterized as a retention bonus and allocated among NWarrender, GJacobs and WJacobs wherein each received $166,666, respectively
CY2021Q4 lsfp Premises Rent Per Square
PremisesRentPerSquare
5.75
CY2021Q4 lsfp Increase In Base Rent Percentage
IncreaseInBaseRentPercentage
0.03 pure
CY2023Q4 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
503000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2882198 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.55
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y18D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
370331 usd
CY2023 lsfp Vesting Of Contingent Warrants Issued In Connection With The Acquisition
VestingOfContingentWarrantsIssuedInConnectionWithTheAcquisition
705000 shares
CY2023 lsfp Vesting Of Contingent Warrants Issued In Connection With The Acquisition Of Second Quarter
VestingOfContingentWarrantsIssuedInConnectionWithTheAcquisitionOfSecondQuarter
25000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3612198 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.85
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y25D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
357008 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3612198 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.85
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y25D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
357008 usd
CY2023Q4 lsfp Common Stock Share Outstanding
CommonStockShareOutstanding
3900455 shares
CY2021Q1 lsfp Premises Rent Per Square
PremisesRentPerSquare
6.13
CY2021Q1 lsfp Base Rent Amount
BaseRentAmount
68888 usd
CY2021Q1 lsfp Increase In Base Rent Percentage
IncreaseInBaseRentPercentage
0.02 pure
CY2023 lsfp Schedule Of Permises Base Monthly Rent Payment Next Twelve Months
ScheduleOfPermisesBaseMonthlyRentPaymentNextTwelveMonths
5740 usd
CY2023 lsfp Schedule Of Permises Base Monthly Rent Payment Year One
ScheduleOfPermisesBaseMonthlyRentPaymentYearOne
5855 usd
CY2023 lsfp Schedule Of Permises Base Monthly Rent Payment Year Two
ScheduleOfPermisesBaseMonthlyRentPaymentYearTwo
5972 usd
CY2023 lsfp Schedule Of Permises Base Monthly Rent Payment Year Three
ScheduleOfPermisesBaseMonthlyRentPaymentYearThree
6092 usd
CY2023 lsfp Schedule Of Permises Base Monthly Rent Payment Year Four
ScheduleOfPermisesBaseMonthlyRentPaymentYearFour
6213 usd
CY2022Q4 us-gaap Purchase Obligation
PurchaseObligation
1375000 usd
CY2021Q4 lsfp Immaterial Loss On Lease Modification
ImmaterialLossOnLeaseModification
1446 usd
CY2023 lsfp Lease Period Term Of Agreement
LeasePeriodTermOfAgreement
P39Y
CY2023Q4 us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
1375000 usd
CY2022Q1 lsfp Premises Rent Per Square
PremisesRentPerSquare
6.00
CY2022Q2 lsfp Premises Rent Per Square
PremisesRentPerSquare
10.75
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
626869 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
169437 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
463623 usd
CY2023 lsfp Finance Lease Right Of Use Asset Before Accumulated Amortizations
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortizations
41226 usd
CY2022 lsfp Finance Lease Right Of Use Asset Before Accumulated Amortizations
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortizations
46273 usd
CY2021 lsfp Finance Lease Right Of Use Asset Before Accumulated Amortizations
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortizations
49347 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
85873 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
70507 usd
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
52825 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
210626 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
115239 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
15405 usd
CY2023 lsfp Finance Lease Expense
FinanceLeaseExpense
337725 usd
CY2022 lsfp Finance Lease Expense
FinanceLeaseExpense
232019 usd
CY2021 lsfp Finance Lease Expense
FinanceLeaseExpense
117577 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
208519 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
191533 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
197622 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
110969 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
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CY2023 lsfp Description Of Termination Of Jeeter Agreement
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pursuant to a Termination Agreement dated as of March 22, 2024 between Jeeter and Lifted. Pursuant to such Termination Agreement, among other things: Jeeter is obligated to pay Lifted $150,000 upon the signing of such Termination Agreement, and an additional $150,000 within 15 days

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