# EDGAR Filing Document

**Accession Number:** 0001490161
**File Stem:** 0000950170-25-108446
**Filing Date:** 2025-8
**Character Count:** 30836
**Document Hash:** c102b1a05f17ab09b80d8a31f600ea18
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-108446.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0000950170-25-108446

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20250814

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sow Good Inc.
- **CENTRAL INDEX KEY:** 0001490161
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOOD & KINDRED PRODUCTS [2000]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 272345075
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42037
- **FILM NUMBER:** 251214477

**BUSINESS ADDRESS:**
- **STREET 1:** 1440 N. UNION BOWER
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75061
- **BUSINESS PHONE:** (214) 623-6055

**MAIL ADDRESS:**
- **STREET 1:** 1440 N. UNION BOWER
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75061

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Black Ridge Oil & Gas, Inc.
- **DATE OF NAME CHANGE:** 20120403

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ante5, Inc.
- **DATE OF NAME CHANGE:** 20100422

?xml version='1.0' encoding='ASCII'? 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

**FORM** 8-K

**Current Report**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): August 14, 2025

SOW GOOD INC.

(Exact name of registrant as specified in its charter)

<u>Delaware</u>   <u>001-42037</u>   <u>27-2345075</u> <br> (State or other jurisdictionof incorporation) (CommissionFile Number) (I.R.S. EmployerIdentification No.)

1440 N Union Bower Rd

Irving**,** TX 75061

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including area code: (214) 623-6055

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(g) of the Act:**

---

| | | |
|:---|:---|:---|
| **Title of each Class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock | SOWG | The Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02. Results of Operations and Financial Condition.**

On August 14, 2025, Sow Good Inc. (the "***Company***") issued a press release announcing financial results for the year to date and three-month periods ended June 30, 2025. The press release contains forward-looking statements regarding the Company, and includes cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.

The press release issued August 14, 2025 is furnished herewith as Exhibit 99.1. The information in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that Section, nor shall such information be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as otherwise stated in such filing.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

**(d) Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [<u>Press Release issued by Sow Good Inc., dated August 14, 2025</u>](sowg-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | SOW GOOD INC. | SOW GOOD INC. |
|  | By: | <u>/s/ Claudia Goldfarb</u>  |
|  |  | **Claudia Goldfarb** |
|  |  | **Chief Executive Officer** |
| Date: August 14, 2025 |  |  |

---

------

## Exhibit 99.1

Exhibit 99.1

![img245980089_0.jpg](img245980089_0.jpg)

**Sow Good Reports Second Quarter 2025 Results**

**IRVING, TEXAS, August 14, 2025** – Sow Good Inc. (Nasdaq: SOWG) ("Sow Good" or "the Company"), a trailblazer in the freeze-dried dried candy and treat industry, is reporting financial and operating results for the six months ended June 30, 2025.

"The second quarter marked a meaningful turning point for Sow Good," said Claudia Goldfarb, CEO of Sow Good. "Operations continued to stabilize, and we saw sustained momentum and growing demand for our brand. While short-term production delays temporarily impacted revenue timing, demand accelerated—outpacing output due to temporary labor shortages. We're actively scaling our workforce and streamlining operations to meet this growth head-on."

"With operations now stable following early disruption from major CPG entrants, we've refocused on scaling as a category leader. In Q2 and early July, we fulfilled all Halloween shipments and deepened our partnerships with Five Below and Albertsons, both expanding SKU counts and order volumes. Performance at Ace Hardware and Orgill remains strong, our innovation pipeline is gaining traction, and there's early excitement around our freeze-dried yogurt snacks and caramel offerings. We also launched in the UAE, where results are exceeding expectations—validating global appetite for our brand and laying the groundwork for further expansion. In parallel, we're advancing strategic conversations that could unlock additional shelf space, private label programs, and category growth."

"Looking ahead, our focus remains on disciplined execution, cost optimization, and innovation. With a stable supply chain and strengthening retail demand, we believe we're well-positioned to reaccelerate growth. Our teams are operating with urgency and purpose, and we're confident in our strategy as we build toward a stronger second half."

**Second Quarter 2025 Highlights** 

• Revenue in the second quarter of 2025 was $1.9 million compared to $15.6 million for the same period in 2024. The decline reflects softer demand, driven primarily by increased competitive pressure and, to a lesser extent, production delays that impacted anticipated sequential growth.

• Gross loss in the second quarter of 2025 was $0.1 million compared to $9.0 million in the previous year's quarter. Gross margin was (7%) in the second quarter of 2025 compared to 58% in the prior year period. The decrease was primarily due to decreased sales coupled with increased occupancy costs.

• Operating expenses in the second quarter of 2025 were $3.9 million compared to $4.1 million for the same period in 2024. The decrease was largely due to lower bonus compensation.

• Net loss in the second quarter of 2025 was $4.2 million, or $(0.36) per basic and diluted share, compared to net income of $3.3 million, or $0.29 per diluted share, for the same period in 2024. The decrease is primarily due to the lower revenue.

• Adjusted EBITDA (a non-GAAP financial measure defined and reconciled herein) in the second quarter of 2025 was $(2.7) million compared to $6.2 million for the same period in 2024. For a reconciliation of Adjusted EBITDA to the nearest comparable GAAP metric, net income, please see the tables below.

------

Exhibit 99.1

• Cash and cash equivalents were $1.0 million at June 30, 2025, compared to $1.6 million at March 31, 2025, and $3.7 million at December 31, 2024

**Conference Call**

Sow Good will conduct a conference call today at 10:00 A.M. Eastern time to discuss its results for the six months ended June 30, 2025.

Date: Thursday, August 14, 2025

Time: 10:00 a.m. Eastern time

Registration Link: <u>https://register-conf.media-server.com/register/BI2326bc9791cc4ae6bb056740961fd547</u>

To access the call by phone, please register via the registration link above and you will be provided with dial-in instructions and details. If you have any difficulty connecting with the conference call, please contact Gateway Group at 1-949-574-3860.

The conference call will be broadcast live and available for replay <u>here</u> and on the Company's website at <u>www.sowginc.com.</u>

**About Sow Good Inc.**

Sow Good Inc. is a trailblazing U.S.-based freeze dried candy and snack manufacturer dedicated to providing consumers with innovative and explosively flavorful freeze dried treats. Sow Good has harnessed the power of our proprietary freeze-drying technology and product-specialized manufacturing facility to transform traditional candy into a novel and exciting everyday confectionaries subcategory that we call freeze dried candy. Sow Good is dedicated to building a company that creates good experiences for our customers and growth for our investors and employees through our core pillars: (i) innovation; (ii) scalability; (iii) manufacturing excellence; (iv) meaningful employment opportunities; and (v) food quality standards.

**Non-GAAP Financial Measures** 

This press release contains "non-GAAP financial measures" that are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with GAAP. Specifically, we make use of the non-GAAP financial measure "Adjusted EBITDA." Adjusted EBITDA has been presented in this press release as a supplemental measure of financial performance that is not required by, or presented in accordance with, GAAP. Adjusted EBITDA is a supplemental measure of our performance that is not required by or presented in accordance with GAAP. We define Adjusted EBITDA as net income (loss) before depreciation and amortization, interest expense, net, provision for income tax, and share-based compensation, and loss on early extinguishment of debt. The most directly comparable GAAP measure is net income (loss). Adjusted EBITDA is not recognized terms under GAAP and should not be considered as an alternative to net income (loss) as a measure of financial performance or cash provided by operating activities as a measure of liquidity, or any other performance measure derived in accordance with GAAP. In addition, in evaluating Adjusted EBITDA, you should be aware that in the future, we may incur expenses similar to the adjustments in the presentation of Adjusted EBITDA. The presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Because not all companies use identical calculations, the presentations of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company.

We present this non-GAAP measure because we believe it assists investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management believes Adjusted EBITDA is useful to investors in

------

Exhibit 99.1

highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate, and capital investments. Management uses Adjusted EBITDA to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, to establish discretionary annual incentive compensation, and to compare our performance against that of other peer companies using similar measures. Management supplements GAAP results with non-GAAP financial measures to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone provide.

There are a number of limitations related to the use of Adjusted EBITDA rather than net income (loss), which is the most directly comparable financial measure calculated and presented in accordance with GAAP. Some of these limitations are:

● Adjusted EBITDA excludes stock-based compensation expense as it has recently been, and will continue to be for the foreseeable future, a significant recurring non-cash expense for our business;

● Adjusted EBITDA excludes depreciation and amortization expense and, although this is a non-cash expense, the assets being depreciated and amortized may have to be replaced in the future;

● Adjusted EBITDA does not reflect the cash requirements necessary to service interest on our debt which affects the cash available to us;

● Adjusted EBITDA does not reflect the monies earned from our investments since it does not reflect our core operations;

● Adjusted EBITDA does not reflect the loss on early extinguishment of debt since it does not reflect our core operations and is a non-cash expense;

● Adjusted EBITDA does not reflect income tax expense that affects cash available to us; and

● the expenses and other items that we exclude in our calculations of Adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from Adjusted EBITDA when they report their operating results.

In addition, other companies may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.

**Forward-Looking Statements**

This press release contains forward-looking statements. Statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, including, among others, statements regarding the offering, expected growth, and future capital expenditures, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes. Forward-looking statements contained in this press release include, but are not limited to statements about: (a) our ability to compete successfully in the highly competitive industry in which we operate; (b) our ability to maintain and enhance our brand; (c) our ability to successfully implement our growth strategies related to launching new products and enter new markets; (d) the effectiveness and efficiency of our marketing programs; (e) our ability to manage current operations and to manage future growth effectively; (f) our future operating performance; (g) our ability to attract new customers or retain existing

------

Exhibit 99.1

customers; (h) our ability to protect and maintain our intellectual property; (i) the government regulations to which we are subject; (j) our ability to maintain adequate liquidity to meet our financial obligations; (k) failure to obtain sufficient sales and distributions for our freeze dried product offerings; (l) the potential for supply chain disruption and delay; (m) the potential for transportation, labor, and raw material cost increases; and (n) such other risks and uncertainties described more fully in documents filed with or furnished to the Securities and Exchange Commission, including the risk factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2024 and our most recent Quarterly Report on Form 10-Q. All information provided in this release is as of the date hereof and we undertakes no duty to update this information except as required by law.

**Sow Good Investor Inquiries:**

Cody Slach

Gateway Group, Inc.

1-949-574-3860

<u>SOWG@gateway-grp.com</u> 

**Sow Good Media Inquiries:**

Sow Good, Inc.

1-214-623-6055

<u>pr@sowginc.com</u> 

------

Exhibit 99.1

**SOW GOOD INC.**

**CONDENSED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
|  | June 30, | December 31, |
|  | 2025 | 2024 |
| ASSETS | (Unaudited) |  |
| Current assets: |  |  |
| Cash and cash equivalents | $959416 | $3723440 |
| Accounts receivable, net | 701175 | 460147 |
| Inventory, net | 20806336 | 20313315 |
| Prepaid inventory | 23962 | 55796 |
| Prepaid expenses | 309194 | 523442 |
| Total current assets | 22800083 | 25076140 |
| Property and equipment, net | 11532848 | 11802420 |
| Security deposit | 1343972 | 1357956 |
| Right-of-use asset | 14308536 | 16459215 |
| Total assets | $49985439 | $54695731 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
| Current liabilities: |  |  |
| Accounts payable | $1176343 | $1368006 |
| Accrued interest | 56096 | - |
| Accrued expenses | 1177800 | 976153 |
| Current portion of operating lease liabilities | 2973780 | 2599102 |
| Current maturities of notes payable, related parties, net of $0 and $304,500 of debt discounts at June 30, 2025 and December 31, 2024, respectively | - | 2195500 |
| Current maturities of notes payable, net of $0 and $13,470 of debt discounts as of June 30, 2025 and December 31, 2024, respectively | - | 225780 |
| Total current liabilities | 5384019 | 7364541 |
| Operating lease liabilities | 13924607 | 15193129 |
| Convertible notes payable, related parties, net of $847,592 and $0 of debt discounts as of June 30, 2025 and December 31, 2024, respectively | 1956226 | - |
| Notes payable | 150000 | 150000 |
| Total liabilities | 21414852 | 22707670 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| Preferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued and outstanding | - | - |
| Common stock, $0.001 par value, 500,000,000 shares authorized, 12,166,128 and 11,300,624 shares issued and outstanding as of June 30, 2025 and December 31, 2024 | 12166 | 11300 |
| Additional paid-in capital | 97758200 | 94418972 |
| Accumulated deficit | (69199779) | (62442211) |
| Total stockholders' equity | 28570587 | 31988061 |
| Total liabilities and stockholders' equity | $49985439 | $54695731 |

---

------

Exhibit 99.1

**SOW GOOD INC.**

**CONDENSED STATEMENTS OF OPERATIONS**

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | For the Three Months Ended | For the Three Months Ended | For the Six Months Ended | For the Six Months Ended |
|  | June 30, | June 30, | June 30, | June 30, |
|  | 2025 | 2024 | 2025 | 2024 |
| Revenues | $1856312 | $15648046 | $4333234 | $27054369 |
| Cost of goods sold | 1986021 | 6640917 | 3360220 | 13417798 |
| Gross profit | (129709) | 9007129 | 973014 | 13636571 |
| Operating expenses: |  |  |  |  |
| General and administrative expenses: |  |  |  |  |
| Salaries and benefits | 1931713 | 2123572 | 3874269 | 4474130 |
| Professional services | 258230 | 594278 | 450553 | 1062104 |
| Other general and administrative expenses | 1745670 | 1399244 | 3120118 | 2271507 |
| Total general and administrative expenses | 3935613 | 4117094 | 7444940 | 7807741 |
| Depreciation and amortization | 8583 | 4939 | 17167 | 14477 |
| Total operating expenses | 3944196 | 4122033 | 7462107 | 7822218 |
| Net operating income (loss) | (4073905) | 4885096 | (6489093) | 5814353 |
| Other income (expense): |  |  |  |  |
| Interest income | 556 | 4130 | 27266 | 4130 |
| Interest expense | (113163) | (599664) | (295739) | (1018333) |
| Loss on early extinguishment of debt | - | (696502) | - | (696502) |
| Total other expense | (112607) | (1292036) | (268473) | (1710705) |
| Income (loss) before income tax | (4186512) | 3593060 | (6757566) | 4103648 |
| Income tax provision | - | (257918) | - | (257918) |
| Net income (loss) | $(4186512) | $3335142 | $(6757566) | $3845730 |
| Weighted average common shares outstanding - basic | 11563768 | 9624999 | 11457062 | 7845832 |
| Net income (loss) per common share - basic | $(0.36) | $0.35 | $(0.59) | $0.49 |
| Weighted average common shares outstanding - diluted | 11563768 | 11385708 | 11457062 | 9408247 |
| Net income (loss) per common share - diluted | $(0.36) | $0.29 | $(0.59) | $0.41 |

---

------

Exhibit 99.1

**SOW GOOD INC.**

**STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY**

(Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2025 |
|  |  |  | Additional |  | Total |
|  | Common Stock | Common Stock | Paid-in | Accumulated | Stockholders' |
|  | Shares | Amount | Capital | Deficit | Equity |
| Balance, March 31, 2025 | 11383060 | $11382 | $95790993 | $(65013265) | $30789110 |
| Common stock issued to officers for services | 783068 | 782 | 159018 | – | 159800 |
| Common stock options granted to directors and advisors for services | – | – | 3559 | – | 3559 |
| Common stock options granted to officers and employees for services | – | – | 1109689 | – | 1109689 |
| Additional paid in capital from exchange of related party debt, net | – | – | 694941 | – | 694941 |
| Net income for the three months ended June 30, 2025 | – | – | – | (4186512) | (4186512) |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance, June 30, 2025 | 12166128 | $12164 | $97758200 | $(69199777) | $28570587 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | For the Three Months Ended June 30, 2024 | For the Three Months Ended June 30, 2024 | For the Three Months Ended June 30, 2024 | For the Three Months Ended June 30, 2024 | For the Three Months Ended June 30, 2024 |
|  |  | – | Additional |  | Total |
|  | Common Stock | Common Stock | Paid-in | Accumulated | Stockholders' |
|  | Shares | Amount | Capital | Deficit | Equity |
| Balance, March 31, 2024 | 6575562 | $6576 | $71123634 | $(58229407) | $12900803 |
| Common stock issued in public offering, net of offering costs | 1380000 | 1380 | 11973596 | – | 11974976 |
| Common stock issued in private placement offering | – | – | – | – | - |
| Proceeds from exercise of stock options and warrants | 2289209 | 2288 | 5670680 | – | 5672968 |
| Common stock issued to directors for services | 617 | 1 | 9476 | – | 9477 |
| Common stock options granted to directors and advisors for services | – | – | 28962 | – | 28962 |
| Common stock options granted to officers and employees for services | – | – | 1093318 | – | 1093318 |
| Net income for the three months ended June 30, 2024 | – | – | – | 3335142 | 3335142 |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance, June 30, 2024 | 10245388 | $10245 | $89899666 | $(54894265) | $35015646 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2025 |
|  |  |  | Additional |  | Total |
|  | Common Stock | Common Stock | Paid-in | Accumulated | Stockholders' |
|  | Shares | Amount | Capital | Deficit | Equity |
| Balance, December 31, 2024 | 11300624 | $11300 | $94418972 | $(62442211) | $31988061 |
| Common stock issued to directors for services | 82436 | 82 | 229918 | – | 230000 |
| Common stock issued to officers for services | 783068 | 782 | 159018 | – | 159800 |
| Common stock options granted to directors and advisors for services | – | – | 9889 | – | 9889 |
| Common stock options granted to officers and employees for services | – | – | 2245462 | – | 2245462 |
| Additional paid in capital from exchange of related party debt, net | – | – | 694941 | – | 694941 |
| Net loss for the six months ended June 30, 2025 | – | – | – | (6757566) | (6757566) |
| Balance, June 30, 2025 | 12166128 | $12164 | $97758200 | (69199777) | $28570587 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | For the Six Months Ended June 30, 2024 | For the Six Months Ended June 30, 2024 | For the Six Months Ended June 30, 2024 | For the Six Months Ended June 30, 2024 | For the Six Months Ended June 30, 2024 |
|  |  |  | Additional |  | Total |
|  | Common Stock | Common Stock | Paid-in | Accumulated | Stockholders' |
|  | Shares | Amount | Capital | Deficit | Equity |
| Balance, December 31, 2023 | 6029371 | $6029 | $66014415 | $(58739995) | $7280449 |
| Common stock issued in public offering, net of offering costs | 1380000 | 1380 | 11973596 | – | 11974976 |
| Common stock issued in private placement offering | 515597 | 516 | 3737484 | – | 3738000 |
| Proceeds from the exercise of stock options and warrants | 2289209 | 2288 | 5670680 | – | 5672968 |
| Common stock issued to directors for services | 31211 | 32 | 295616 | – | 295648 |
| Common stock options granted to directors and advisors for services | – | – | 57608 | – | 57608 |
| Common stock options granted to officers and employees for services | – | – | 2150267 | – | 2150267 |
| Net income for the three months ended June 30, 2024 | – | – | – | 3845730 | 3845730 |
| Balance, June 30, 2024 | 10245388 | $10245 | $89899666 | $(54894265) | $35015646 |

---

------

Exhibit 99.1

**SOW GOOD INC.**

**CONDENSED STATEMENTS OF CASH FLOWS**

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | For the Six Months Ended | For the Six Months Ended |
|  | June 30, | June 30, |
|  | 2025 | 2024 |
| CASH FLOWS FROM OPERATING ACTIVITIES |  |  |
| Net income (loss) | $(6757566) | $3845730 |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bad debts expense | 9184 | 20760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 518712 | 366784 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash amortization of right-of-use asset and liability | 1256835 | 405383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock issued to officers and directors for services | 389800 | 295648 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of stock options | 2255351 | 2207875 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt discounts | 165997 | 777704 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on early extinguishment of debt | - | 696502 |
| &nbsp;&nbsp;&nbsp;&nbsp;Decrease (increase) in current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (250212) | (3639538) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses | 214248 | 393083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | (461187) | (6783244) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security deposits | 13984 | (1011340) |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (191663) | 928390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax payable | - | 257918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | 119986 | (431049) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 201647 | 729860 |
| Net cash used in operating activities | (2514884) | (939534) |
| CASH FLOWS FROM INVESTING ACTIVITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of property and equipment | - | (1863794) |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for construction in progress | (249140) | (364256) |
| Net cash used in investing activities | (249140) | (2228050) |
| CASH FLOWS FROM FINANCING ACTIVITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from common stock offerings, net | - | 15712976 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the exercise of warrants and options | - | 373855 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayments of borrowings | - | (956249) |
| Net cash provided by financing activities | - | 15130582 |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (2764024) | 11962998 |
| &nbsp;&nbsp;&nbsp;&nbsp;CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 3723440 | 2410037 |
| &nbsp;&nbsp;&nbsp;&nbsp;CASH AND CASH EQUIVALENTS AT END OF PERIOD | $959416 | $14373035 |
| SUPPLEMENTAL INFORMATION: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest paid | $399 | $770428 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest received | $27266 | $4130 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes paid | $- | $- |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash exercise of warrants | $- | $5299113 |
| Retirement of Notes Payable, related party in non-cash debt exchange | $(2500000) | $(98750) |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuance of Convertible Notes Payable, related party, including accrued interest of $64,568 in debt exchange | $2803818 | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayment of interest | $(64568) | $(98750) |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayments of borrowings | $(239250) | $(5200363) |
| &nbsp;&nbsp;&nbsp;&nbsp;Reclassification of construction in progress to property and equipment | $682469 | $1651305 |

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Exhibit 99.1

**SOW GOOD INC.**

**RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |
|  | June 30, | June 30, | June 30, | June 30, |
|  | 2025 | 2024 | 2025 | 2024 |
| Net income (loss) | $(4186512) | $3335142 | $(6757566) | $3845730 |
| Depreciation and amortization | 266263 | 199789 | 518712 | 366784 |
| Interest expense, net | 112607 | 595534 | 268473 | 1014203 |
| Provision for income tax | - | 257918 | - | 257918 |
| EBITDA | (3807642) | 4388383 | (5970381) | 5484635 |
| Share-based payments | 1113248 | 1131757 | 2485269 | 2503491 |
| Loss on early extinguishment of debt | - | 696502 | - | 696502 |
| Adjusted EBITDA | $(2694394) | $6216642 | $(3485112) | $8684628 |

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