LFTD Partners loses $350k in USDC stablecoin theft; obtains insider loan for working capital

LFTD PARTNERS INC.

On April 1, 2025, $350k of USD Coin (USDC) stolen from Company's digital wallet by unauthorized third party.
Company reported theft to FBI; outside law firm advising; cannot predict recovery of stolen funds.
Entered interest-free, unsecured, demand loan of $350k from Beachin Company (affiliate of CEO/CFO) for short-term working capital.
Cash position as of Dec 31, 2024 was $3.15M (including $1M restricted), down 41% YoY.
Loan approved orally by lead independent director.

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