Company: BOF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010566
Chunk: 75

Company: BranchOut Food Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 75
---
uant to the MDA, the Company has been appointed
as Nanuva’s exclusive distributor in the following territories:

 Summary of Nanuva’s Exclusive Distributor in Territories

    Exclusivity
     
    Minimum
    Volume

    Product
     
    Territories
     
    (Kg/month)(“MOQ”)

    Avocado
    Powder
     
    Worldwide
    (except Chile)

    1,000

    Banana
    Chips
     
    Worldwide
    (except Chile)

    1,000

    Avocado
    Snacks
     
    North
    America (Canada and USA)

    1,000

    Avocado
    Chips
     
    Worldwide

    1,000

    Other
    Powders
     
    No
    Exclusivity

    -0-

Note
9 – Accrued Expenses

Accrued
expenses consisted of the following as of March 31, 2025 and December 31, 2024, respectively:

 Schedule of Accrued Expenses 

    March 31,  
    December 31, 

    2025  
    2024 
  
    Accrued payroll and taxes 
    $195,958  
    $82,338 
  
    Accrued interest 
     371,721  
     210,783 
  
    Accrued chargebacks 
     18,419  
     26,663 
  
    Accrued royalties 
     40,585  
     13,830 
  
    Total accrued expenses 
    $626,683  
    $333,614 

Note
10 – Convertible Notes Payable, Related Parties

As
discussed in further detail in Note 2, on July 24, 2024, the Company issued the $3.4 million Convertible Note to Kaufman Kapital, together
with Warrants, convertible into shares of common stock at a fixed price of $0.7582 per share. The Convertible Note matures on the earlier
of (i) December 31, 2025, (ii) the sale by the Company of $5,000,000 of equity or debt securities in a single transaction or series of
related transactions (excluding certain specified transactions), or (iii) the closing of a change of control transaction as provided
in the Convertible Note. Loans