Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 355

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 355
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2017. On November 19, 2021, the Company converted from an Oregon limited liability company into BranchOut Food Inc., a Nevada corporation.
The Company is engaged in the development, marketing, sale, and distribution of plant-based, dehydrated fruit and vegetable snacks and
powders. The Company’s products are currently manufactured at its new production facility that commenced production in Pisco Peru
in December 2024, and is supported by contract manufacturers, as necessary. The Company’s products are manufactured using a new
proprietary dehydration technology licensed by the Company. The Company’s customers are primarily located throughout the United
States.

Note
2 – Basis of Presentation

Basis
of Accounting

The
accompanying financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally
accepted in the United States of America (“GAAP”) and the rules of the U.S. Securities and Exchange Commission (“SEC”).
All references to GAAP are in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification
(“ASC”) and the GAAP hierarchy.

When
preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts of assets
and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of
revenue and expenses during the reporting period. Actual results could differ from those estimates.

These
statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for
fair presentation of the information contained therein.

Principles
of Consolidation

The
accompanying consolidated financial statements include the accounts of the following entities, all of which were under common control
and ownership at December 31, 2024:

    Name
    of Entity
     
    Jurisdiction
     
    Relationship
  
    BranchOut
    Food Inc.(1)
     
    Nevada,
    U.S.
     
    Parent
  
    BranchOut
    Food Sucursal Peru(2)
     
    Pisco,
    Peru
     
    Subsidiary

    (1)
    Holding
    company in the form of a corporation.
  
    (2)
    Peruvian
    wholly-owned subsidiary of BranchOut Food Inc. in the form of a branch.

The
consolidated financial statements herein contain the operations of the wholly-owned subsidiary listed above. The Company’s headquarters
are located in Bend, Oregon.

Initial