Company: BOF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010566
Chunk: 116

Company: BranchOut Food Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 116
---
 provided by financing activities 
     2,461,215  
     137,589 
  
    Effect of exchange rate changes on cash 
     8,209  
     - 

    Net change in cash 
    $56,929  
    $(406,089)

Net
Cash Used in Operating Activities

Net
cash used in operating activities was $1,927,122 for the three months ended March 31, 2025, compared to $503,578 for the three months
ended March 31, 2024, an increase of $1,423,544, or 283%. The increase was primarily due to our increased accounts receivable as of March 31, 2025.

Net
Cash Used in Investing Activities

Net
cash used in investing activities was $377,841 for the three months ended March 31, 2025, compared to $40,100 for the three months ended
March 31, 2024, an increase of $337,741, or 842%. This increase was primarily attributable to $377,841 of property and equipment purchases,
compared to $50,000 of property and equipment purchases, as partially offset by $9,900 of advances received on notes receivable, in the
comparative period.

Net
Cash Provided by Financing Activities

Net
cash provided by financing activities was $2,353,683 for the three months ended March 31, 2025, compared to $137,589 for the three months
ended March 31, 2024, an increase of $2,216,094, or 1,611%. Our increased cash provided by financing activities was primarily from $2,445,605
of increased net proceeds received on the sale of common stock, net of $15,610 of offering costs, and $115,765 of decreased debt repayments,
as partially offset by $345,000 of decreased proceeds received from related party debt financing and $276 of increased principal payments
on finance leases.

CRITICAL
ACCOUNTING POLICIES AND ESTIMATES

Our
financial results are affected by the selection and application of accounting policies and methods. In the three-month period ended March
31, 2025 there were no changes to the application of critical accounting policies disclosed in our Annual Report on Form 10-K for the
year ended December 31, 2024.

28

CAUTIONARY
NOTICE REGARDING FORWARD-LOOKING STATEMENTS