Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1198

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1198
---

     - 
  
    Notes payable, related parties 
     -  
     1,200,000  
     - 
  
    Lease liabilities 
     -  
     -  
     1,674,064 
  
    Total
    liabilities 
     -  
     3,046,147  
     5,077,477 
  
    Total assets and liabilities 
    $2,329,452  
    $(2,686,165) 
    $(3,521,286)

    F-14

BRANCHOUT
                                            FOOD INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

    Level
    1  
    Level
    2  
    Level
    3 

    Fair
    Value Measurements at December 31, 2023 

    Level
    1  
    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 202