Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 405

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 405
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,710)

Note
23 – Subsequent Events

The
Company evaluates events that have occurred after the balance sheet date through the date hereof, which these financial statements were
issued. No events occurred of a material nature that would have required adjustments to or disclosure in these financial statements except
as follows:

ATM
Offering

On
February 18, 2025, the Company entered into entered into a First Amendment to the ATM Agreement to increase the aggregate offering price
of the Shares that the Company may sell under the ATM Agreement to up to $5,000,000. Subsequent to December 31, 2024, the Company sold
a total of 1,303,115 shares of common stock, including 182,693 shares authorized, but unissued at December 31, 2024, at prevailing market
prices under the ATM Agreement for aggregate net proceeds of $2,407,448, after deducting applicable expenses, including a commission
paid to Alexander Capital equal to 3% of the gross proceeds from the sale of the shares.

Exercise
of Warrants

On
February 14, 2025, the Company received aggregate proceeds of $38,157 on the exercise of Representative’s Warrants to purchase
an aggregate of 39,747 shares of common stock.

F-30

ITEM
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None

ITEM
9A. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

We
maintain a system of disclosure controls and procedures that is designed to ensure that information required to be disclosed by us in
the reports we file or furnish to the SEC under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and
reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated
to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosures.

As
of December 31, 2024, we carried out an evaluation, under the supervision and with the participation of our management, including our
Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined) in Exchange
Act Rules 13a –15(e). Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of
the end of the period covered in this report, our disclosure controls and procedures were ineffective to