Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 123

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 123
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    Amortization of debt discounts on related
    party convertible notes 
     6,415  
     - 

    Interest on convertible notes payable 
     -  
     138,316 
  
    Interest on notes payable 
     19,809  
     214,430 
  
    Interest on notes payable, related parties 
     235,200  
     - 
  
    Interest on notes payable 
     235,200  
     - 

    Amortization of debt discounts on related
    party notes 
     258,790  
     20,000 
  
    Amortization of debt discounts on modification
    of Eagle Vision warrants 
     89,949  
     - 
  
    Amortization of debt discounts on related
    party notes, warrants 
     80,908  
     46,090 
  
    Amortization of debt discounts on related
    party notes 
     80,908  
     46,090 

    Interest on other current liability, first
    position mortgage 
     33,215  
     - 
  
    Interest on revolving line of credit 
     -  
     8,251 
  
    Finance charge on letter of credit 
     -  
     2,082 
  
    Interest on credit
    cards 
     -  
     2,406 
  
    Total
    interest expense 
    $863,231  
    $435,271 

    F-19

BRANCHOUT
                                            FOOD INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

Note
16 – Leases

Equipment
Lease

The
Company has financed production equipment with an acquisition cost of approximately $168,141 under a finance lease with a five-year term
and a bargain purchase price of $1.00 at the end of the lease term. The finance lease commenced on May 9, 2023 and expires on May 31,
2028, with monthly lease payments of $3,657 commencing June 1, 2023, and a pre-funding and acceptance fee of $18,079, subject to the
ASU 2016-02. As the Company’s lease does not provide implicit discount rates, the Company uses an incremental borrowing rate based
on the information available at the commencement date in determining the present value of lease payments