Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1456

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 1456
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 purchase 30,000 shares of common stock at an exercise
                                            price of $2.51 per share that vested in full on August 8, 2024, exercisable until August
                                            7, 2028.

(7)Includes
                                            12,500 shares held by Byron R Jones & Angelina Jones JT TEN. Includes 34,166 shares of
                                            common stock that may be acquired under an option to purchase 34,166 shares of common stock
                                            at an exercise price of $1.92 per share that vested in full on February 22, 2024, exercisable
                                            until February 21, 2034.

(8)Includes
                                            an aggregate 4,484,305 shares of common stock that may be acquired by Kaufman Kapital LLC,
                                            which is an entity 100% owned by Mr. Daniel L. Kaufman, under $3,400,000 of senior secured
                                            convertible promissory notes that are convertible into common stock at a conversion rate
                                            of $0.7582 per share. Excludes 375,598 shares that could be converted into common stock on
                                            the accrued interest. Also includes 1,000,000 shares of common stock that may be acquired
                                            by Kaufman Kapital LLC under warrants to purchase 1,000,000 shares of common stock at an
                                            exercise price of $1.00 per share that vested in full with shareholder approval on October
                                            14, 2024, exercisable until December 31, 2025. And, includes 500,000 shares of common stock
                                            that may be acquired by Kaufman Kapital LLC under warrants to purchase 500,000 shares of
                                            common stock at an exercise price of $1.50 per share that vested in full with shareholder
                                            approval on October 14, 2024, exercisable until December 31, 2025. Mr. Kaufman has the sole
                                            voting and dispositive power over these shares.

ITEM
13. Certain Relationships and Related Transactions, and Director Independence

Certain
Relationships and Related Party Transactions

Other
than the transactions described below, there has not been, nor is there currently proposed, any transaction or series of similar transactions
to which we were or will be a party:

    ●
    in
    which the amount involved exceeds the lesser of $120,000 or one percent of the average of our total assets at year-end for