Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1274

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 1274
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As
of December 31, 2024, we had incurred recurring losses from operations resulting in an accumulated deficit of $17,562,057, cash
on hand of $2,329,452 and negative working capital of $3,897,382. Subsequent to December 31, 2024, we received gross proceeds of approximately
$2.4 million from sales of our common stock in an “At-the-Market” offering. However, assuming we continue to generate substantial
losses from operations, we will not have sufficient funds to fund our operations at their current levels for the next twelve months.
Although we anticipate that our results of operations will improve substantially as a result of the recent launch of our new facility
in Peru, there can be no assurance in that regard, and we may be required to obtain additional financing to fund operations. Since inception,
we have raised funds primarily through debt and convertible debt financing, and the sale of equity securities. No assurance can be given
that any future financing will be available if required, or, if available, that it will be on terms that are satisfactory to us. Even
if we are able to obtain additional financing, it may contain undue restrictions on our operations or cause substantial dilution for
our stockholders. We cannot guarantee that we will become profitable. Even if we achieve profitability, given the competitive and evolving
nature of the industry in which we operate, we may not be able to sustain or increase profitability and our failure to do so would adversely
affect our business, including our ability to raise additional funds.

The
accompanying financial statements appearing in this 10-K have been prepared assuming that we will continue as a going concern, which
contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. The financial
statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and
classification of liabilities that might be necessary should we be unable to continue as a going concern.

Off-Balance
Sheet Arrangements

We
did not have any off-balance sheet arrangements, such as structured finance, special purpose entities, or variable interest entities
during the years ended December 31, 2024 and 2023.

Emerging
Growth Company

As
an emerging growth company under the JOBS Act, we are eligible to take advantage of certain exemptions from various reporting requirements
that are applicable to other public companies that are not emerging growth companies