Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 126

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 126
---
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 
     18,286 
  
    Total minimum lease payments 
     146,287 
  
    Less effects of discounting 
     24,283 
  
    Lease liability recognized 
     122,004 
  
    Less current portion 
     29,243 
  
    Long-term finance lease
    liability 
    $92,761 

    F-21

BRANCHOUT
                                            FOOD INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

Note
17 – Commitments and Contingencies

Legal
Matters

From
time to time, the Company may be a party to various