Company: BOF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010566
Chunk: 7

Company: BranchOut Food Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 7
---
1, the Company converted from an Oregon limited liability company into BranchOut Food Inc., a Nevada corporation.
The Company is engaged in the development, marketing, sale, and distribution of plant-based, dehydrated fruit and vegetable snacks and
powders. The Company’s products are currently manufactured at its new production facility that commenced production in Pisco Peru
in December 2024, and is supported by contract manufacturers, as necessary. The Company’s products are manufactured using a new
proprietary dehydration technology licensed by the Company. The Company’s customers are primarily located throughout the United
States.

Basis
of Accounting

The
accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles
generally accepted in the United States of America (“GAAP”) for interim financial reporting and as required by pursuant
to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include
all of the information and notes required by GAAP for complete financial statements. In the opinion of the Company’s management,
the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of items of a normal and recurring
nature) necessary to present fairly the financial position as of March 31, 2025, the results of operations for the three months ended
March 31, 2025 and 2024, and cash flows for the three months ended March 31, 2025 and 2024. The results of operations for the three months
ended March 31, 2025 are not necessarily indicative of the results to be expected for the full year. The balance sheet as of December
31, 2024 was derived from our audited financial statements. The accompanying condensed consolidated financial statements and notes thereto
should be read in conjunction with the audited financial statements for the year ended December 31, 2024, which were included in our
Annual Report on Form 10-K. The Company follows the same accounting policies in the preparation of interim reports.

When
preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts of assets
and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of
revenue and expenses during the reporting period. Actual results could differ from those estimates.

Principles
of Consolidation

The
accompanying consolidated financial statements include the accounts of the following entities, all of which were