JACKSONVILLE, Fla., Aug. 16, 2021 (GLOBE NEWSWIRE) -- LFTD Partners Inc., formerly known as Acquired Sales Corp. (OTCQX: AQSP) (www.AcquiredSalesCorp.com), today announced that during the second quarter of 2021 it achieved quarter-over-quarter growth in revenue of 99%, from $3,353,270 to $6,695,144, quarter-over-quarter growth in net income of 158%, from $618,359 to $1,596,154, and quarter-over-quarter growth in basic earnings per share of 75%, from $0.08 to $0.14, driven by the growth of its wholly-owned subsidiary Lifted Made (www.LiftedMade.com), maker of the award-winning Urb Finest Flowers brand of hemp-derived delta-8-THC, delta-9-THC, delta-10-THC and other emerging cannabinoid products.
Nicholas S. Warrender, Vice Chairman and COO of AQSP, and founder and CEO of Lifted Made, said: “The second quarter is a solid reflection of our foundational work over the past six months. Having moved into our new facility in Kenosha in March, we have automated production and increased capacity to meet growing demand while expanding vendor relations to reduce costs, a great challenge in this business climate. This has led to increased gross margins, allowing us to become even more competitive in the marketplace. We have relentlessly continued to expand our distribution network throughout the country. Our staff continues to expand, with an aggressive focus on revenue growth through very exciting ‘first to market’ products. I believe that between the organic growth of Lifted Made, and our planned merger with Savage Enterprises, we are well on our way toward achieving our goal of creating the most profitable and largest public company in the space.”
William C. “Jake” Jacobs, President and CFO of both AQSP and Lifted Made, said: “For the fourth straight quarter, we have proven that we are one of the few companies in the cannabis industry that can grow our revenues and profits at an extremely fast pace. Lifted currently has over $3.3 million cash in the bank. We are excited to be partnering with Savage Enterprises, a group of like-minded people, and we are looking forward to bringing other great entrepreneurs into AQSP, in a decentralized environment that doesn’t disrupt the entrepreneurs or the mojo of their companies.”
Christopher G. Wheeler, CEO of award-winning e-liquid and cannabinoid-infused products maker Savage Enterprises (www.SavageEnterprises.com) (“Savage”), Irvine, California, which has signed a letter of intent to merge into AQSP, the closing of which is subject to a number of contingencies, said, “We are super excited for the partnership with Lifted Made and AQSP. Savage Enterprises continues to grow, and is on an insane trajectory, having unaudited sales of $5.3 million in the first quarter of 2021, over $10 million in sales in the second quarter of 2021, and more than $5 million in sales in July of 2021, bringing our unaudited year to date totals to over $20 million. Our goal is to accelerate the growth and profitability of both Savage and Lifted Made.”
Matt Winters, CFO of Savage, commented, “The Savage team and I are very excited to be a part of such an explosively growing company. Savage has broken sales records month after month for the last two quarters. And, Lifted’s numbers speak for themselves. Both companies have had a phenomenal first half of the year, and we plan to finish strong. I feel that the synergy between both companies will bring both Savage and Lifted to new heights. I anticipate that we will hit sales figures in quarter four of this year that I previously thought we wouldn’t see until late next year. With both Lifted and Savage’s combined ability to market, promote, manufacture, and sell high quality hemp-derived cannabis products, I feel that we are going to continue to have this explosive growth, with a plethora of new products coming in the pipe. We are very excited and continue to work diligently on our audits and other due diligence items necessary for the closing of our merger with AQSP, while still delivering the best, highest quality, affordable, and beautifully designed products to market. Stay tuned!”
About Lifted Made and LFTD Partners Inc., Formerly Known as Acquired Sales Corp.
Lifted Made was founded in 2014 by CEO Nicholas S. Warrender. Lifted Made is a leading manufacturer of hemp and hemp-derived products. Urb Finest Flowers is Lifted Made’s flagship, award-winning brand. In February 2020, Lifted Made became a wholly-owned subsidiary of publicly traded LTFD Partners Inc., formerly known as Acquired Sales Corp. (OTCQX ticker symbol AQSP). Lifted Made’s products can be purchased online at www.LiftedMade.com.
LFTD Partners Inc., formerly known as Acquired Sales Corp. (OTCQX ticker symbol AQSP) is focused upon acquiring rapidly growing companies that manufacture and sell branded hemp-derived cannabinoid products (e.g. delta-8-THC, delta-10-THC, THCV, THCO, CBDA, CBC, CBG, CBN, CBD), e-liquid, disposable nicotine vapes, kratom and kava products. In February, 2020, AQSP acquired 100% of Warrender Enterprise Inc. d/b/a Lifted Made (formerly d/b/a Lifted Liquids) (www.LiftedMade.com), now located in Kenosha, Wisconsin. Lifted Made has a 50% membership interest in SmplyLifted LLC, which sells tobacco-free nicotine pouches under the brand name FR3SH (www.GETFR3SH.com). AQSP also owns 4.99% of CBD-infused beverage and products maker Ablis Holding Company (www.AblisBev.com), and of craft distillers Bendistillery Inc. d/b/a Crater Lake Spirits (www.CraterLakeSpirits.com) and Bend Spirits, Inc. (www.Bendistillery.com), all located in Bend, Oregon. AQSP has also signed a letter of intent to acquire delta-8-THC and CBD industry leader Savage Enterprises, and to enter the California marijuana industry by purchasing Premier Greens LLC and MKRC Holdings, LLC, the closing of which transactions are subject to a number of contingencies.
Please read AQSP's filings with the U.S. SEC which fully describe our business and the Risk Factors associated therewith. Learn more by subscribing to our newsletters at www.LiftedMade.com and www.AcquiredSalesCorp.com.
Cautionary Note Regarding Forward-Looking Statements Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes the growth and profitability strategies, and future products and plans of Lifted Made, SmplyLifted LLC, LFTD Partners Inc., formerly known as Acquired Sales Corp., Savage Enterprises and related entities. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to the actual results of these companies’ operations or the performance or achievements of these companies differing materially from those expressed or implied by the forward-looking statements. These companies undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain other factors, including the risk factors set forth in AQSP’s filings with the Securities and Exchange Commission.