Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 294

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 294
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 matter how well-conceived and operated, can provide only reasonable, not absolute,
assurance that the objectives of the control system are met. These inherent limitations include the realities that judgments in decision-making
can be faulty, and that breakdowns can occur because of simple error or mistake. For example, our directors or executive officers could
inadvertently fail to disclose a new relationship or arrangement causing us to fail to make a required related party transaction disclosure.
Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by an unauthorized
override of the controls. Accordingly, because of the inherent limitations in our control system, misstatements due to error or fraud
may occur and not be detected.

Risks
Related to Our Business

We
are dependent on our management team, and the loss of any key member of this team may prevent us from implementing our business plan
in a timely manner, or at all.

Our
success depends largely upon the continued services of our executive officers and other key personnel, particularly our Chief Executive
Officer, Eric Healy. Our executive officers or key personnel could terminate their employment with us at any time without penalty. In
addition, we do not maintain key person life insurance policies on any of our employees. The loss of one or more of our executive officers
or key personnel could seriously harm our business and may prevent us from implementing our business plan in a timely manner, or at all.

Our
Chief Financial Officer is not a full-time employee.

John
Dalfonsi, our Chief Financial Officer, is not a full-time employee of the Company and is simultaneously serving other interests. There
can be no assurance that we will be able to successfully manage our finance and accounting matters without a full time Chief Financial
Officer.

Our
business is reliant on the license we have been granted to utilize certain dry processing technology we use to manufacture our products
in the agreed upon exclusive region.

Our
ability to continue our business of growth and distribution of our products is dependent on the licensing agreement (the “Licensing
Agreement”) we entered into with EnWave to utilize its dehydration technology in the manufacturing of our products. Our license
is exclusive to North America, Central America, and South America (excluding our contract manufacturer in Chile) as it specifically relates
to our avocado products and Peru, and the Licensing Agreement grants non-exclusive rights for a variety of additional products. Any failure
to comply with the terms of the Licensing Agreement could convert