secwatch.observer — SEC 8-K summary
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Issuer:     LFTD PARTNERS INC. (LIFD)
CIK:        0001391135
Form:       8-K
Filed at:   2023-01-03T23:59:59+00:00
Accession:  0001096906-23-000003
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391135/000109690623000003/0001096906-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391135/000109690623000003/lsfp-20221230.htm
  HTML page:      https://secwatch.observer/filing/0001096906-23-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer