Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 281

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 281
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Overview

BranchOut
Food Inc. (together with its subsidiaries, the “Company,” “BranchOut,” “we,” “our,” or
“us”) was originally incorporated as AvoChips Inc., an Oregon corporation, on February 21, 2017. On November 2, 2017, AvoChips
Inc. converted into Avochips, LLC, an Oregon limited liability company and on November 19, 2021, Avochips, LLC converted into a Nevada
corporation named BranchOut Food Inc.

We
are engaged in the development, marketing, sale, and distribution of plant-based, dehydrated fruit and vegetable snacks and powders.
Our products have historically been manufactured for us by two contract manufacturers, one based in the Republic of Chile, and the other
in the Republic of Peru, which housed our large-scale continuous through-put dehydration machine that completed its first production
run in the first quarter of 2023. Our dehydrated fruit and vegetable products are produced using a new proprietary dehydration technology
licensed by us from a third party. Our customers are primarily located throughout the United States. In 2024, we decided to initiate
our own production facility in Peru to become vertically integrated. We recently completed the build out of the new facility (the “Peru
Facility”), which commenced operations in December 2024, and utilizes three large-scale REV machines (a REV 60, REV 100 and REV
120) that we recently purchased from EnWave Corporation (“EnWave”), as well as, a small REV 10 R&D machine that is being
used for product development and customer sample purposes.

Using
our licensed technology platform, we believe our lines of branded, private-label and industrial ingredient products positively address
current consumer trends. In our experience, conventional dehydration methods, such as freeze-drying and air drying, tend to degrade most
fruit and vegetables through oxidation, browning/color degradation, nutritional content reduction and/or flavor loss. As a result, certain
highly sensitive fruits, such as avocados and bananas, have not previously been successfully offered as a dehydrated base for consumer
products. We believe that our licensed technology platform and process is the only way to produce quality avocado and banana-based snack
and powdered products. Additionally, we believe our licensed technology platform produces superior products when using other fruits and
vegetables when compared to conventional drying and dehydration technologies. We license technology, consisting of a portfolio