Company: BOF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010566
Chunk: 33

Company: BranchOut Food Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 33
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 Three Months Ended 

    March 31, 

    2025  
    2024 
  
    Cash paid for amounts included in the measurement of lease liabilities: 

    Operating cash flows used for operating leases 
    $10,085  
    $- 
  
    Finance cash flows used for finance leases 
    $7,687  
    $7,411 

    19

BRANCHOUT FOOD INC.

NOTES TO THE CONDENSED
FINANCIAL STATEMENTS

(Unaudited)

The
future minimum lease payments due under operating leases as of March 31, 2025 is as follows:

 Schedule of Future Minimum Operating Lease Payments 

    Year Ending 
    Minimum Lease 
  
    December 31, 
    Commitments 
  
    2025 (for the three months remaining) 
    $72,000 
  
    2026 
     192,000 
  
    2027 
     256,000 
  
    2028 
     280,000 
  
    2029 
     296,000 
  
    Thereafter 
     1,300,000 
  
    Total minimum lease payments 
     2,396,000 
  
    Less effects of discounting 
     812,880 
  
    Lease liability recognized 
     1,583,120 
  
    Less current portion 
     - 
  
    Long-term operating lease liability 
    $1,583,120 

The
future minimum lease payments due under finance leases as of March 31, 2025 is as follows:

 Schedule
of Future Minimum Lease Payments 

    Year Ending 
    Minimum Lease 
  
    December 31, 
    Commitments 
  
    2025 (for the three months remaining) 
    $29,257 
  
    2026 
     43,886 
  
    2027 
     43,886 
  
    2028 
     18,286 
  
    Total minimum lease payments 
     135,315 
  
    Less effects of discounting 
     20,998 
  
    Lease liability recognized 
     114,317 
  
    Less current portion 
     30,054 
  
    Long-term finance lease liability 
    $84,263 

Note
14 – Commitments and Contingencies

Legal
Matters

From
time to time, the Company may