\n | \n | \n\n Three Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n $<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n % of Total<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n % of Total<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Coffee creamers<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n5,078,739\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n55%\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n4,005,430\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n71%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Hydration and beverage enhancing supplements<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,511,630\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n16%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n981,471\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n17%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Coffee, tea, and hot chocolate products<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,661,130\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n18%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,222,617\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n22%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Harvest snacks and other food items<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,344,802\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n15%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n0%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n317,422\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n3%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n173,607\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n3%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gross sales<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,913,723\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n108%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,383,125\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n114%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Shipping income<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n40,750\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n0%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n43,793\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n1%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Returns and discounts<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(758,687\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n(8%)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(818,088\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n(15%)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Sales, net<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,195,786\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n100%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,608,830\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n100%\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\n Three Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n $<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n % of Total<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n % of Total<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Online<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n5,799,104\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n63%\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n3,684,526\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n66%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Wholesale<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,235,230\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n35%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,823,188\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n33%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Food service<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n161,452\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n2%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n101,116\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n2%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Sales, net<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n9,195,786\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n100%\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n5,608,830\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n100%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Net sales <\/b>increased 64% to $9.2 million in the second quarter of 2021 compared to $5.6 million in the second quarter of 2020.Growth in net sales in the second quarter of 2021 was due primarily to solid gains in DTC, including two months of newly acquired Picky Bars.\n<\/p>\n Gross profit<\/b> was $2.2 million, a 66% increase compared to the prior year period of $1.3 million. Gross margin was 23.9% of net sales in the second quarter of 2021, compared to 23.6% of net sales in the prior year period. The year over year increase in gross margin was primarily due to optimization of direct-to-consumer shipping costs and improvements in liquid creamer distribution and disposals.\n<\/p>\n Operating expenses<\/b> were $8.5 million compared to $4.3 million in the year ago period and reflect General and Administrative expense increases of $2.3 million, primarily due to stock-based compensation, personnel costs, insurance expense, reserves against prepaid assets, and professional fees, as well as Sales and Marketing expense increases of $1.5 million, primarily due to advertising and marketing fees.\n<\/p>\n Loss from operations <\/b>was $6.3 million in the second quarter of 2021, compared to a loss of $3.0 million in the prior year period.\n<\/p>\n Net loss attributable to common stockholders<\/b> was $6.3 million, or $0.70 per diluted share, in the second quarter of 2021, compared to net loss attributable to common stockholders of $4.0 million, or $0.93 per diluted share, in the prior year period.\n<\/p>\n \nValerie Ells, Chief Financial Officer, commented, \u201cIn addition to delivering strong top-line growth, we\u2019ve made significant strides operationally through the first half of 2021 putting us firmly on track toward our long-term goals around margins and profitability. Continued optimization of our direct-to-consumer shipping expenses, driven by an improvement in our average order value, aided our gross margin this quarter. Similarly, continued improvements related to our liquid creamer products, including an extended shelf life and logistical enhancements, resulted in significant improvement in manufacturing waste and spoils. With over $43 million of cash and investments and essentially no debt, our balance sheet remains strong providing the capacity and flexibility to pursue multiple growth drivers on our path to scale and profitability.\u201d\n<\/p>\n For the Six Months Ended June 30, 2021<\/span><\/b><\/p>\n\n\n | \n | \n\n Six Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2021<\/b><\/p>\n<\/td>\n | | \n\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n $<\/b><\/p>\n<\/td>\n | | \n\n % of Total<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | | \n\n % of Total<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Coffee creamers<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n10,100,647\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n61%\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n8,024,792\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n72%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Hydration and beverage enhancing supplements<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,576,206\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n15%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,840,177\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n17%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Coffee, tea, and hot chocolate products<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,561,962\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n21%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,963,189\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n18%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Harvest snacks and other food items<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,487,705\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n9%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n0%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n533,838\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n3%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n233,197\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n2%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gross sales<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n18,260,358\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n110%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n12,061,355\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n109%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Shipping income<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n66,410\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n0%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n195,345\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n2%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Returns and discounts<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,704,729\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n(10%)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,164,645\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n(10%)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Sales, net<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n16,622,039\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n100%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,092,055\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n100%\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \nSix Months Ended June 30,<\/b><\/td>\n<\/tr>\n\n | \n | \n\n 2021<\/b><\/p>\n<\/td>\n | | \n\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n $<\/b><\/p>\n<\/td>\n | | \n\n % of Total<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | | \n\n % of Total<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Online<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n10,161,510\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n61%\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n6,335,267\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n59%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Wholesale<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,158,286\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n37%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,551,000\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n41%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Food service<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n302,243\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n2%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n205,788\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n1%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Sales, net<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n16,622,039\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n100%\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n11,092,055\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n100%\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n Net sales <\/b>increased 50% to $16.6 million in the first six months of 2021 compared to $11.1 million in the first six months of 2020.Year-to-date growth in net sales was due to growth in both online and wholesale channels, and broad based with all categories showing strong double-digit increases. In addition, we completed the acquisition of Picky Bars in early May, which significantly increased our business in Harvest snacks and other food products.\n<\/p>\n Gross profit<\/b> was $4.1 million, an increase of 18% compared to the prior year period of $3.4 million. Gross margin was 24.4% of net sales in the first six months of 2021, compared to 31.0% of net sales in the prior year period. The year over year decrease in gross margin was primarily due to elevated outbound shipping costs combined with the launch of a free shipping initiative for direct online purchases made on lairdsuperfood.com<\/i>, increased personnel costs and costs associated with our liquid creamer product line.\n<\/p>\n Operating expenses<\/b> were $15.7 million compared to $8.5 million in the first six months of 2021 and reflect General and Administrative expense increases of $4.4 million, primarily due to stock-based compensation, personnel costs, insurance expense, reserves against prepaid assets, and professional fees, as well as Sales and Marketing expense increases of $2.5 million, primarily due to advertising and marketing fees.\n<\/p>\n Loss from operations <\/b>was $11.6 million in the first six months of 2021, compared to a loss of $5.0 million in the prior year period.\n<\/p>\n Net loss attributable to common stockholders<\/b> was $11.6 million, or $1.30 per diluted share, in the first six months of 2021, compared to net loss attributable to common stockholders of $6.0 million, or $1.40 per diluted share.\n<\/p>\n Balance Sheet and Cash Flow Highlights<\/span><\/b><\/p>\n\nThe Company\u2019s current assets include cash, cash equivalents, and restricted cash of $34.9 million and investment securities of $8.7 million as of June 30, 2021. Total outstanding debt was $51,000 as of June 30, 2021. Net cash used in operating activities was $11.0 million in the six months ended June 30, 2021, compared to $4.6 million in the comparative prior year period.\n<\/p>\n Capital expenditures<\/b> totaled $0.5 million for the six months ended June 30, 2021, compared to $0.3 million in the comparative prior year period.\n<\/p>\n Leadership Transition<\/span><\/b><\/p>\n\nAlso announced today, Paul Hodge, Jr. will be transitioning to a non-executive role and stepping down as President and Chief Executive Officer. The Company\u2019s Board of Directors has commenced a search for his successor. Additional details on this transition can be found in a separate media release issued this afternoon.\n<\/p>\n Conference Call and Webcast Details<\/b><\/p>\n \nThe Company will host a conference call and webcast at 5:00 p.m. ET today to discuss results. The live conference call can be accessed by dialing (833) 772-0381 from the U.S. or (236) 384-2050 internationally. The conference I.D. code is 3667069. Alternatively, participants may access the live webcast on the Laird Superfood Investor Relations website at https:\/\/investors.lairdsuperfood.com<\/a> under \u201cEvents.\u201d\n<\/p>\nAbout Laird Superfood <\/b><\/p>\n \nLaird Superfood, Inc. creates award-winning, plant-based superfood products that are both delicious and functional. The Company’s products are designed to enhance your daily ritual and keep consumers fueled naturally throughout the day. The Company was co-founded in 2015 by the world’s most prolific big-wave surfer, Laird Hamilton. Laird Superfood’s offerings are environmentally conscientious, responsibly tested, and made with real ingredients. Shop all products online at lairdsuperfood.com<\/a> and join the Laird Superfood community on social media for the latest news and daily doses of inspiration.\n<\/p>\nForward-Looking Statements<\/b><\/p>\n \nThis press release and the earnings call referencing this press release contain \u201cforward-looking\u201d statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Laird Superfood\u2019s future financial performance, including our outlook for fiscal year 2021. These forward-looking statements are based on Laird Superfood\u2019s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Laird Superfood\u2019s actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. We expressly disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.\n<\/p>\n \nThe risks and uncertainties referred to above include, but are not limited to: (1) the effects of the current COVID-19 pandemic, or of other global outbreaks of pandemics or contagious diseases or fear of such outbreaks, including on our supply chain, the demand for our products, and on overall economic conditions and consumer confidence and spending levels; (2) our expectations regarding our revenue, expenses, including shipping expenses, and other operating results; (3) our ability to acquire new direct and wholesale customers and successfully retain existing customers; (4) our ability to attract and retain our suppliers, distributors and co-manufacturers, and effectively manage their costs and performance; (5) our expectations regarding real or perceived quality with our products or other issues that adversely affect our brand and reputation; (6) our ability to innovate on a timely and cost-effective basis, predict changes in consumer preferences and develop successful new products, or updates to existing products, and develop innovative marketing strategies; (7) expectations regarding prices and availability of raw materials and other inputs, a substantial amount of which come from a limited number of suppliers outside the United States, including in areas which may be adversely affected by climate change; (8) effects of changes in the tastes and preferences of our consumers and consumer preferences for natural and organic food products; (9) the financial condition of, and our relationships with, our suppliers, co-manufacturers, distributors, retailers and foodservice customers, as well as the health of the foodservice industry generally; (10) effects of real or perceived quality or health issues with our products or other issues that adversely affect our brand and reputation; (11) the ability of ourselves, our suppliers and co-manufacturers to comply with food safety, environmental or other laws or regulations; (12) our plans for future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements; (13) the costs and success of our marketing efforts, and our ability to promote our brand; (14) our reliance on our executive team and other key personnel and our ability to identify, recruit and retain skilled and general working personnel; (15) our ability to effectively manage our growth; (16) our ability to compete effectively with existing competitors and new market entrants; (17) the impact of adverse economic conditions; and (18) the growth rates of the markets in which we compete.\n<\/p>\n \n\nLAIRD SUPERFOOD, INC.<\/b><\/td>\n<\/tr>\n\nSTATEMENTS OF OPERATIONS<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n\n For the Three Months Ended
\n
June 30,<\/b><\/p>\n<\/td>\n | | \n\n For the Six Months Ended
\n
June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n\n 2021<\/b><\/p>\n<\/td>\n | | \n\n 2020<\/b><\/p>\n<\/td>\n | | \n\n 2021<\/b><\/p>\n<\/td>\n | | \n\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Sales, net<\/b><\/td>\n | | \n | \n\n \n$\n<\/p>\n<\/td>\n | \n \n9,195,786\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n5,608,830\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n16,622,039\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n11,092,055\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cost of goods sold<\/b><\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(6,998,695\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(4,285,128\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(12,558,194\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(7,650,736\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gross profit<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,197,091\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,323,702\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,063,845\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,441,319\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| General and administrative<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Salaries, wages and benefits<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,019,845\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n804,903\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,225,698\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,621,075\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n955,369\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n116,249\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,854,604\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n299,452\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Professional fees<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n609,448\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n191,130\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n953,070\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n373,177\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Insurance expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n500,821\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n25,866\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,023,221\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n57,061\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Office expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n206,448\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n108,883\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n393,279\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n222,248\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Occupancy<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n62,957\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n56,343\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n119,478\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n109,774\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Merchant service fees<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n151,882\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n89,014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n258,257\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n145,049\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Netsuite subscription expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n74,117\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n30,923\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n129,138\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n57,318\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Impairment on asset held for sale<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n239,734\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n239,734\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n582,024\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n169,397\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n847,235\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n307,124\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total general and administrative expenses<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,162,911\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,832,442\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,803,980\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,432,012\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Research and product development<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Salaries, wages and benefits<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n116,187\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n72,931\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n186,548\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n147,833\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,385\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,192\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,952\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,384\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Product development expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n249,948\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n40,175\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n412,792\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n97,917\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,332\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,499\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,247\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,977\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total research and product development expenses<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n374,852\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n117,797\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n615,539\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n261,111\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Sales and marketing<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Salaries, wages and benefits<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n630,328\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n697,547\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,264,079\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,443,556\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n55,706\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n35,938\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n97,095\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n110,434\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Advertising<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,699,865\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,154,060\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,381,209\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,090,423\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| General marketing<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,260,489\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n261,662\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,971,012\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n570,884\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amazon selling fee<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n210,842\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n208,317\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n413,118\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n395,889\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Travel expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,604\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,950\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,360\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n73,964\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n67,658\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n34,227\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n116,698\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n103,368\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total sales and marketing expenses<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,936,492\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,395,701\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,263,571\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,788,518\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total expenses<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,474,255\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,345,940\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15,683,090\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,481,641\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Operating loss<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(6,277,164\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,022,238\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(11,619,245\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(5,040,322\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Other income (expense)<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Interest and dividend income<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,623\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,171\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n25,525\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n31,025\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss on sale of fixed assets<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(2,325\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on sale of available-for-sale securities<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,677\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,677\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total other income (expense)<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,623\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15,848\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n23,200\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n38,702\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss before income taxes<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(6,265,541\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,006,390\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(11,596,045\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(5,001,620\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(36,718\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(36,718\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net loss<\/b><\/td>\n | | \n | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(6,302,259\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(3,006,390\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(11,632,763\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(5,001,620\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Less deemed dividend of beneficial conversion feature<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(825,366\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(825,366\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Less deemed dividend on warrant discount<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(179,427\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(179,427\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net loss attributable to Laird Superfood, Inc. common stockholders<\/b><\/td>\n | | \n | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(6,302,259\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(4,011,183\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(11,632,763\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(6,006,413\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net loss per share attributable to Laird Superfood, Inc common stockholders:<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(0.70\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(0.93\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(1.30\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(1.40\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(0.70\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(0.93\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(1.30\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(1.40\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted<\/td>\n | | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,967,797\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,325,265\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,931,736\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,303,305\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n | | | | | | | | | | | | | | | | | | |
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20210811005847\/en\/898551\/3\/Laird_Superfood_Logo_-_Color.jpg\"){kind=logo}
<\/td>\n<\/tr>\n