Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 856

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 856
---
    Level
    2  
    Level
    3 
  
    Assets 

    Cash 
    $657,789  
    $-  
    $- 
  
    Right-of-use-asset 
     -  
     -  
     147,228 
  
    Notes receivable 
     -  
     384,628  
     - 
  
    Total
    assets 
     657,789  
     384,628  
     147,228 
  
    Liabilities 

    Notes payable 
     -  
     235,000  
     - 
  
    Lease liability 
     -  
     -  
     131,930 
  
    Total
    liabilities 
     -  
     235,000  
     131,930 
  
    Total assets and liabilities 
    $657,789  
    $149,628  
    $15,298 

There
were no transfers of financial assets or liabilities between Level 1 and Level 2 inputs for the years ended December 31, 2024 and 2023.

Note
7 – Major Customers and Accounts Receivable

The
Company had certain customers whose revenue individually represented 10% or more of the Company’s total net revenue, or whose accounts
receivable balances individually represented 10% or more of the Company’s total accounts receivable, as follows:

For
the years ended December 31, 2024 and 2023, two customers accounted for 99% and 90% of net revenue, respectively, and 89% and 85% of
accounts receivable, respectively.

Note
8 – Other Current Assets

Other
current assets at December 31, 2024 and 2023, consisted of the following:

 Schedule of Other Current Assets

    2024  
    2023 

    December
    31, 

    2024  
    2023 
  
    Prepaid insurance costs 
    $21,736  
    $2,403 
  
    Prepaid advertising and trade show fees 
     14,944  
     20,106 
  
    Prepaid professional & license fees 
     27,369  
     6,056 
  
    Miscellaneous prepaid expenses 
     19,583  
     - 
  
    Interest rece