Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 140

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 140
---
 expenses expected to be
expensed over the remaining life of the outstanding debt, as the debt was repaid in full on June 16, 2023.

Underwriters’
Warrants Issued Pursuant to IPO

In
June 21, 2023, the Company issued warrants to purchase 82,110 shares at $7.20 per share, exercisable between December 18, 2023 and December
18, 2028, pursuant to the underwriters’ agreement. The aggregate estimated value of the warrants using the Black-Scholes Pricing
Model, based on a weighted average volatility rate of 54% and a weighted average call option value of $1.7981, was $147,639.

    F-27

BRANCHOUT
                                            FOOD INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

The
following is a summary of information about our warrants to purchase common stock outstanding at December 31, 2024.

 Schedule
of Warrants to Purchase Common Stock Outstanding

    Shares
    Underlying 
  
    Shares
    Underlying Warrants Outstanding  
    Warrants
    Exercisable 

    Weighted  

    Shares  
    Average  
    Weighted  
    Shares  
    Weighted 
  
    Range
    of  
    Underlying  
    Remaining  
    Average  
    Underlying  
    Average 
  
    Exercise  
    Warrants  
    Contractual  
    Exercise  
    Warrants  
    Exercise 
  
    Prices  
    Outstanding  
    Life  
    Price  
    Exercisable  
    Price 
  
    $
    0.96-$7.50  
     3,462,162  
     5.11 years  
    $1.88  
     3,462,162  
    $1.88 

The
fair value of each warrant grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average
assumptions used for grants under the fixed option plan:

 Schedule
of Weighted-Average Assumptions Used for Grants Under  Fixed Option Plan

    December 31,  
    December 31, 

    2024  
    2023 
  
    Average risk-free interest rates 
     3.56% 
     4.04%