Company: BOF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010566
Chunk: 6

Company: BranchOut Food Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 6
---
000)
  
    Payments received on notes receivable 
     -  
     9,900 
  
    Net cash used in investing activities 
     (377,841) 
     (40,100)

    Cash flows from financing activities 

    Payment of deferred offering costs 
     (15,610) 
     - 
  
    Repayment of notes payable 
     (84,235) 
     (200,000)
  
    Proceeds received on notes payable, related parties 
     -  
     345,000 
  
    Principal payments on finance lease 
     (7,687) 
     (7,411)
  
    Proceeds from sale of common stock pursuant to ATM program 
     2,423,058  
     - 
  
    Proceeds from exercise of underwriters’ warrants 
     38,157  
     - 
  
    Net cash provided by financing activities 
     2,353,683  
     137,589 

    Effect of exchange rate changes on cash 
     8,209  
     - 

    Net increase (decrease) in cash 
     56,929  
     (406,089)
  
    Cash - beginning of period 
     2,329,452  
     657,789 
  
    Cash - ending of period 
    $2,386,381  
    $251,700 

    Supplemental disclosures: 

    Interest paid 
    $63,621  
    $14,617 
  
    Income taxes paid 
    $-  
    $- 

    Non-cash investing and financing transactions: 

    Relative fair value of warrants issued as a debt discount 
    $-  
    $8,861 

See accompanying notes to financial statements.

6

BRANCHOUT
FOOD INC.

NOTES
TO THE CONDENSED FINANCIAL STATEMENTS

(Unaudited)

Note
1 – Nature of Business and Significant Accounting Policies

Nature
of Business

BranchOut
Food Inc. (“BranchOut,” the “Company,” “we,” “our” or “us”) was incorporated
as Avochips Inc. in Oregon on February 21, 2017, and converted into AvoLov, LLC, an Oregon limited liability company, on November 2,
2017. On November 19, 202