LFTD Partners subsidiary recoups ~$1M from vape manufacturer for clogged devices

LFTD PARTNERS INC.

Agreement forgives $630,000 in payables and provides $370,047 in future purchase credits.
Total recoupment of just over $1.0M relates to Q3 2022 write-off of $2.3M for clogged 2 mL vapes.
Credits of $185,023.50 per year for 2023 and 2024 (or quarterly per filing).
Expected net $485,496 improvement to cost of goods sold and accrued liabilities as of Dec 30, 2022.
New 3 mL vape devices said to be well-received; management optimistic about 2023.

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