Company: BOF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021655
Chunk: 96

Company: BranchOut Food Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 96
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 shares of common stock at a weighted average exercise price of $2.46 per share, with a weighted average
remaining contractual life of approximately 5.67 years, were outstanding as of September 30, 2025.

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.

On
June 4, 2025, Kaufman Kapital exercised warrants to purchase an aggregate of 1,000,000 shares of the Company’s common stock at
an exercise price of $1.00 per share. These warrants were originally issued in connection with the Kaufman Kapital Senior Secured Convertible
note. The exercises resulted in aggregate cash proceeds of $1,000,000.

During the period ended September 30, 2025, additional
Warrants were exercised to purchase an aggregate of 348,716 shares of the Company’s common stock at an exercise price of $1.00 per
share for aggregate cash proceeds of $348,716.

 Schedule
of Warrant Activity

    Number of Warrants  
    Weighted-Average Exercise Price  
    Weighted-Average Remaining Contractual Term (Years) 
  
    Outstanding at December 31, 2024 
     3,462,665  
    $1.88  

    Issued 
     -  
     -  

    Exercised 
     1,388,463  
     1.00  

    Expired 
     -  
                    -  

    Outstanding at September 30, 2025 
     2,074,202  
    $2.46  
     5.67 

    Exercisable at September 30, 2025 
     2,074,202  
    $2.46  
     5.67 

Note
16 – Fair Value of Financial Instruments

Under
FASB ASC 820-10-5, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates
a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures.