Lftd Partners Inc. (OTCQB:LIFD)

Lftd Partners Inc (OTC:LIFD) ($2.82; $39.7M Market Cap) manufactures and sells psychedelic products under its Silly Shruum brand, and hemp-derived cannabidiol products under its Urb Finest Flowers brand. LFTD Partners Inc. The company announced its Q3 2022 results:

• Sales of $11.1 million vs $8.8million in the prior year

• EPS of $0.03 vs $0.14 in the prior year

“We grew our Q3 2022 sales 27% to $11.2 million, up from $8.8 million in Q3 2021. During the first nine months of 2022, we grew our sales 144% to $46.1 million, up from $18.9 million during the first nine months of 2021. We took some inventory write-offs (~$2 million) during the third quarter of 2022, but we expect to break $60 million in annual sales during 2022, and to have another profitable quarter this quarter. Throughout our aggressive growth, we've stayed true to our philosophy of being nimble, innovative and hungry. I credit our operating and sales force for continuing to push our mission forward by fusing the vision of our brand with a team that's able to execute on a dime. As great of a year this has been thus far, I believe the best is still yet to come from the Lifted team.

In addition to our hemp-derived cannabinoid and psychedelic products business, we are intensively working on an acquisition agreement with the owners of a growing US company outside of our industry that is pursuing expansion into Asia and the Middle East. If consummated, this exciting potential acquisition would significantly diversify our company's revenues, and very likely would cause us to pursue the listing of LFTD Partners' common stock on multiple stock exchanges."