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

Company: BranchOut Food Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 12
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 America (“GAAP”) for interim financial reporting and as required by pursuant to
the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the
information and notes required by GAAP for complete financial statements. In the opinion of the Company’s management, the accompanying
unaudited condensed consolidated financial statements contain all adjustments (consisting of items of a normal and recurring nature)
necessary to present fairly the financial position as of September 30, 2025, the results of operations for the three and nine months
ended September 30, 2025 and 2024, and cash flows for the nine months ended September 30, 2025 and 2024. The results of operations for
the three and nine months ended September 30, 2025 are not necessarily indicative of the results to be expected for the full year. The
balance sheet as of December 31, 2024 was derived from our audited financial statements. The accompanying condensed consolidated financial
statements and notes thereto should be read in conjunction with the audited financial statements for the year ended December 31, 2024,
which were included in our Annual Report on Form 10-K. The Company follows the same accounting policies in the preparation of interim
reports.

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 September 30, 2025:

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

    (1)
    Holding company in the form of a corporation.
  
    (2)
    Peruvian wholly-owned subsidiary
    of BranchOut Food Inc. established on April 26, 2024 in the form of a branch.

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

Going
Concern

As
shown in the accompanying condensed consolidated financial statements, as of September 30, 2025, the Company has incurred recurring losses
from operations resulting in an accumulated deficit of $21,656,147, with positive working capital of $2,118,922, which may