Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 291

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 291
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 appeal, trading of our common stock would be suspended. On October 11, 2024, we submitted a request
for a hearing with Nasdaq’s Hearings Panel to appeal Nasdaq’s delisting determination, which stayed the suspension of trading
of our common stock.

As
of November 14, 2024, as a result of the sale of 928,602 Shares under the ATM Agreement for aggregate gross offering proceeds
of approximately $1,795,000, we regained compliance with the Rule, and the hearing before the Hearing Panel was cancelled. However, Nasdaq
informed us that it will continue to monitor the Company’s ongoing compliance with the stockholders’ equity requirement and,
if we fail to evidence compliance with the Rule upon the filing of its Annual Report on Form 10-K for the year ended December 31, 2024,
we may be subject to delisting.

As
of December 31, 2024, we were again not in compliance with the Rule, with stockholders’ equity of $2,341,583 as reported in this
Annual Report on Form 10-K. However, as a result of the sale of 1,303,115 additional shares of
our common stock under the ATM Agreement following December 31, 2024 for net proceeds of approximately $2.4 million, as of the date of
filing this Annual Report on Form 10-K, the Company believes it has regained compliance with the Rule. However, Nasdaq will continue
to monitor the Company’s ongoing compliance with the stockholders’ equity requirement and, if at the time of its next periodic
report the Company does not evidence compliance, it may be subject to delisting. A delisting would likely have a negative effect on the
price of our common stock and may impair the ability of our stockholders to sell our stock.

 7 

We
may need to raise additional capital to fund our existing commercial operations and develop and commercialize new products and expand
our operations.

If
our available cash balances, net proceeds from financing activities, and anticipated cash flow from operations are insufficient to satisfy
our liquidity requirements, we may seek to sell common stock or other securities, and/or seek additional debt financing.

We
may consider raising additional capital in the future to expand our business, to pursue strategic investments, to take advantage of financing
opportunities or for other reasons, including to:

    ●
    increase our sales and marketing efforts
    and address competitive