LFTD Partners' Lifted Made repays bank debt after US$1.5M Kenosha sale
Lifted Made closed the Kenosha building sale Sept. 29 and used US$841,110 to repay all its outstanding bank debt.
Theo Marchetti
A former hemp-products headquarters in Kenosha, Wis., sold for US$1.5 million on Sept. 29, according to an Oct. 1 company release. LFTD Partners Inc. OTCMKTSLIFD said its Lifted Made subsidiary used US$841,110 of the proceeds to repay all outstanding bank debt, leaving the parent with more than US$2.4 million in cash.
The post-sale cash figure is consolidated, so it includes funds beyond the property proceeds. Lifted Made moved the operations formerly conducted at the sold building into its existing leased facilities in Kenosha, which cover 41,025 square feet, according to the release. The release gave no rent, relocation expense or planned use for the cash remaining after debt repayment.
The Sale Closed After a July Agreement
In a July 23 Form 8-K, LFTD identified Ad Real Estate Group LLC as the buyer and said the contract was executed July 22. The roughly 11,238-square-foot building had served as Lifted Made's office, manufacturing and storage facility after the company bought it in December 2023. The filing expected the sale to close around Sept. 16; the Oct. 1 release puts the actual closing on Sept. 29.
The filing reported a first-priority mortgage principal of US$852,755 as of Dec. 31, 2025. That older balance is separate from the US$841,110 bank payoff the company reported after the Sept. 29 sale. The filing said Lifted Made agreed to convey title by warranty deed free of liens and encumbrances except as permitted under the sale agreement; real estate taxes and customary items would be prorated.
The contract was not contingent on the buyer obtaining financing, though it listed inspection, survey and zoning conditions before closing. Subtracting the US$841,110 bank repayment from the stated sale price leaves US$658,890 before sale costs and prorations. The release did not provide a separate net proceeds figure.
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LFTD president and chief financial officer Jake Jacobs linked the sale to regulatory uncertainty in the Oct. 1 release:
"This transaction strengthens our financial flexibility as we navigate continued regulatory uncertainty in the hemp industry," Jacobs said.
LFTD's company site describes Urb as a hemp-derived product brand and Highlandia as a hemp-derived beverage brand. Its Oct. 1 release also identifies federal changes to the hemp definition as a risk to products containing some cannabinoids. The sale removes bank debt from Lifted Made, but the release gives no product-by-product estimate of how the pending restrictions might affect revenue.
A Sept. 28 Congressional Research Service brief says Public Law 119-103 postponed portions of the changed hemp definition. The affected provisions are due to take effect Dec. 11 instead of Nov. 12. LFTD's release says restrictions on cannabinoids that cannot naturally be produced by the cannabis plant remain scheduled for Nov. 12. That is the next federal deadline identified in the company's account; the release does not identify which of its products, if any, will be affected.
