Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 435

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 435
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 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 the exclusive portion of the license to a non-exclusive license, thereby
permitting potential competitors to produce comparable avocado-based products using EnWave’s dehydration technology in the same
geographic areas. Thus, any material failure to comply with the terms of the license or any failure to renew the license after it expires
could have a material adverse impact on our financial condition and the operation of our business as it relates to our avocado-based
products. Furthermore, we are reliant on EnWave to enforce its intellectual property rights in preventing would be competitors from using
the technology exclusively licensed to us and there can be no assurance that EnWave will be successful in enforcing such rights in the
relevant areas. Furthermore, future product development efforts may lead to additional products that we desire to commercialize. In this
case, we will request expanding the exclusive and/or non-exclusive products defined by the