Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1098

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 1098
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    F-20

BRANCHOUT
                                            FOOD INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

Supplemental
cash flow and other information related to finance leases was as follows:

 Schedule of Supplemental Cash and Other Information Related to finance Leases

    2024  
    2023 

    For the Years Ended 

    December
    31, 

    2024  
    2023 
  
    Cash paid for amounts included in the measurement
    of lease liabilities: 

    Operating
    cash flows provided by operating leases 
    $25,853  
    $- 
  
    Finance
    cash flows used for finance leases 
    $9,926  
    $- 

     - 
  
    Leased assets obtained in exchange for lease
    liabilities: 
        
     - 
  
    Total
    operating lease liabilities 
    $1,547,182  
    $- 
  
    Total
    finance lease liabilities 
    $184,592  
    $- 

The
future minimum lease payments due under operating leases as of December 31, 2024 is as follows:

 Schedule of Future Minimum Operating Lease Payments

    Year Ending 
    Minimum Lease 
  
    December
    31, 
    Commitments 
  
    2025 
    $96,000 
  
    2026 
     192,000 
  
    2027 
     256,000 
  
    2028 
     280,000 
  
    Thereafter 
     1,596,000 
  
    Total minimum lease payments 
     2,420,000 
  
    Less effects of discounting 
     846,965 
  
    Lease liability recognized 
     1,573,035 
  
    Less current portion 
     - 
  
    Long-term operating
    lease liability 
    $1,573,035 

The
future minimum lease payments due under finance leases as of December 31, 2024 is as follows:

 Schedule
of Future Minimum Finance Lease Payments

    Year Ending 
    Minimum Lease 
  
    December
    31, 
    Commitments 
  
    2025 
    $40,229 
  
    2026 
     43,886 
  
    2027 
     43,886 
  
    2028