Company: BOF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021655
Chunk: 33

Company: BranchOut Food Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 33
---
350,782  
     3,333,413 
  
    Less: current maturities 
     -  
     3,333,413 
  
    Convertible notes payable, related parties, less current maturities 
    $3,350,782  
    $- 

    Total Kaufman Senior Secured Promissory Note, related party 
     500,000  
     1,200,000 
  
    Total Senior Notes held by Eagle Vision 
     -  
     1,560,000 
  
    Total Senior Notes Payable 
     -  
     1,560,000 

    Total notes payable, related parties 
     500,000  
     2,760,000 
  
    Less: current maturities 
     500,000  
     2,760,000 
  
    Notes payable, related parties, less current maturities 
    $-  
    $- 

    20

The
Company recognized $251,636 of interest expense on notes payable, related parties for the nine months ended September 30, 2025. The Company
recognized $361,096 of interest expense on notes payable, related parties for the nine months ended September 30, 2024, consisting of
$131,053 of stated interest expense, $175,473 of amortized debt discounts and $54,570 of amortized debt discounts due to warrants.

The
Company recognized $329,112 of interest expense on convertible notes payable, related parties for the nine months ended September 30,
2025, consisting of $311,743 of stated interest expense, $13,576 of amortized debt discounts and $3,793 of amortized debt discounts due
to warrants.

EnWave
Equipment Promissory Note

On
May 22, 2023, the Company entered into an equipment purchase agreement with EnWave for the purchase of a used 100kW Rev vacuum microwave
dehydration machine (the “EnWave Machine”). Cash payments of $500,000 were paid towards the $1,000,000 purchase price on
the EnWave Machine, while the $500,000 balance due is to be paid in twelve (12) monthly installments of $44,424, bearing interest 12%
per annum, commencing August 1, 2024.

On
September 16, 2025, the Company and