Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1306

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 1306
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3 until 2024 when several large orders were placed. As of December
31, 2024, a total of $140,018 of the Advance Payment had been repaid as a reduction of inventory costs, consisting of $140,018 of principal
and $16,223 of interest. All payments consisted of reductions in inventory costs, other than a payment of $15,000 in cash on March 24,
2021. As of December 31, 2024, a total of $390,722 was outstanding from Nanuva, consisting of $359,982 of principal and $30,740 of unpaid
interest. As of December 31, 2023, a total of $404,163 was outstanding from Nanuva, consisting of $384,628 of principal and $19,535 of
unpaid interest. The Advance Payment is collateralized by a second lien in the equipment. Pursuant 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

    Product 
    Exclusivity
     Territories 
    Minimum
    Volume  (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
12 – Accrued Expenses

Accrued
expenses consist of the following:

 Schedule of Accrued Expenses

    2024  
    2023 

    December
    31, 

    2024  
    2023 
  
    Accrued payroll and taxes 
    $82,338  
    $43,376 
  
    Accrued interest 
     210,783  
     2,577 
  
    Accrued chargebacks 
     26,663  
     119,291 
  
    Accrued royalties 
     13,830  
     - 
  
    Total
    accrued expenses 
    $333,614  
    $165,244 

    F-16