Company: BOF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010566
Chunk: 115

Company: BranchOut Food Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 115
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 $1,050,967 for the three months ended March 31, 2024, a decrease
of $132,585, or 13%. The decreased net loss was primarily due to increased gross profits and a $521,954 decrease in stock-based compensation,
as partially offset by $366,043 of increased general and administrative expenses.

27

Liquidity
and Capital Resources

The
following table summarizes our total current assets, liabilities and working capital as of March 31, 2025 and December 31, 2024.

    March 31,  
    December 31, 

    2025  
    2024 
  
    Current Assets 
    $5,791,605  
    $4,916,614 

    Current Liabilities 
    $8,528,261  
    $8,813,996 

    Working Capital 
    $(2,736,656) 
    $(3,897,382)

As
of March 31, 2025, we had negative working capital of $2,736,656. We have incurred net losses since our inception and we anticipate net
losses and negative operating cash flows for the near future, and we may not be profitable or realize growth in the value of our assets.
To date, our primary sources of capital have been cash generated from the sales of our products, common stock sales, and debt and equity
financing. As of March 31, 2025, we had cash of $2,386,381, total liabilities of $10,230,144, and an accumulated deficit of $18,480,439.
As of December 31, 2024, we had cash of $2,329,452, total liabilities of $10,514,292, and an accumulated deficit of $17,562,057.

Cash
Flow

Comparison
of the Three Months Ended March 31, 2025 and the Three Months Ended March 31, 2024

The
following table sets forth the primary sources and uses of cash for the periods presented below:

    Three Months Ended 

    March 31, 

    2025  
    2024 
  
    Net cash used in operating activities 
    $(1,927,122) 
    $(503,578)
  
    Net cash used in investing activities 
     (377,841) 
     (40,100)
  
    Net cash