Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1113

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 1113
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    $1.88  
     3,462,162  
    $1.88 

The
fair value of each warrant grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average
assumptions used for grants under the fixed option plan:

 Schedule
of Weighted-Average Assumptions Used for Grants Under  Fixed Option Plan

    December 31,  
    December 31, 

    2024  
    2023 
  
    Average risk-free interest rates 
     3.56% 
     4.04%
  
    Average expected life (in years) 
     5.56  
     6.34 
  
    Volatility 
     39.15% 
     54.40%

The
weighted average fair value of warrants granted with exercise prices at the current fair value of the underlying stock was approximately
$1.09 and $6.88 per warrant for the years ended December 31, 2024 and 2023, respectively.

The
following is a summary of activity of outstanding common stock warrants, as retrospectively presented pursuant to the amendment on March
7, 2022:

 Schedule
of Outstanding Common Stock Warrants

    Weighted 

    Average 

    Number  
    Exercise 

    of
    Shares  
    Prices 
  
    Balance, December 31, 2022 
     365,141  
    $6.81 
  
    Warrants
    granted 
     112,110  
     6.88 
  
    Balance, December 31, 2023 
     477,251  
     6.83 
  
    Warrants
    granted 
     2,984,911  
     1.09 
  
    Balance, December
    31, 2024 
     3,462,162  
    $1.88 

    Exercisable, December
    31, 2024 
     3,462,162  
    $1.88 

Note
21 – Income Taxes

The
Company incurred a net operating loss for the period from November 19, 2021 (the effective date of the conversion from a limited liability
company to a corporation) through December 31, 2024 and, accordingly, no provision for income taxes has been recorded.