Company: BOF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010566
Chunk: 30

Company: BranchOut Food Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 30
---
    $- 

The
Company recognized $102,082 of interest expense on notes payable, related parties for the three months ended March 31, 2025, and $28,146
of interest expense on notes payable, related parties for the three months ended March 31, 2024, consisting of $13,480 of stated interest
expense, $2,034 of amortized debt discounts and $12,632 of amortized debt discounts due to warrants.

The
Company recognized aggregate interest expense for the three months ended March 31, 2025 and 2024 respectively, as follows:

 Schedule of Recognized Interest Expense 

    March 31,  
    March 31, 

    2025  
    2024 
  
    Interest on convertible notes payable, related parties 
    $100,603  
    $- 
  
    Amortization of debt discounts on related party convertible notes 
     12,833  
     - 
  
    Amortization of debt discounts on related party convertible notes, warrants 
     3,586  
     - 
  
    Amortization of debt discounts on related
    party convertible notes 
     3,586  
     - 

    Interest on notes payable 
     5,008  
     598 
  
    Interest on notes payable, related parties 
     102,082  
     13,480 
  
    Interest on notes payable 
     102,082  
     13,480 

    Amortization of debt discounts on related party notes 
     -  
     12,632 
  
    Amortization of debt discounts on related party notes, warrants 
     -  
     2,034 
  
    Amortization of debt discounts on related party notes 
     -  
     2,034 

    Interest on first credit position financing 
     16,866  
     - 
  
    Total interest expense 
    $240,978  
    $28,744 

Note
13 – Leases

Equipment
Lease

The
Company has financed production equipment with an acquisition cost of approximately $168,141 under a finance lease with a five-year term
and a bargain purchase price of $1.00 at the end of the lease term. The finance lease commenced on May 9, 2023 and expires on May 31,