secwatch.observer — SEC 8-K summary
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Issuer:     LFTD PARTNERS INC. (LIFD)
CIK:        0001391135
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0001096906-23-000895
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LFTD Partners subsidiary signs exclusive manufacturing deal with Diamond Supply Co.; plans asset purchase
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- Lifted Made to be exclusive worldwide manufacturer of Diamond-branded vapes, gummies, pre-rolls, and hard candies containing CBD, hemp, delta-8/10-THC, cannabis.
- Royalty: 20% of Adjusted Gross Revenue on first run; 45% on subsequent runs with 50/50 cost sharing, or flat 7% without cost sharing.
- Diamond can buy products for direct sale at 30% below wholesale; term is 3 years, auto-renew if annual royalties >= $1M.
- Company intends to purchase most assets of a hemp flower product manufacturer to bring production in-house; closing April 28, 2023.
- Partnership with Diamond, a 25-year-old skateboarding/streetwear brand, aims to expand Urb brand into new markets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391135/000109690623000895/0001096906-23-000895-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391135/000109690623000895/lsfp-20230423.htm
  HTML page:      https://secwatch.observer/filing/0001096906-23-000895

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