Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 62

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 62
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 may deteriorate. Therefore, even those systems determined to be effective can provide only
reasonable assurance with respect to financial statement preparation and presentation.

We
carried out an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer,
of the effectiveness of our internal controls over financial reporting as of December 31, 2024. In making this assessment, our management
used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in “Internal Control
— Integrated Framework (2013).” Based on this assessment, management identified the following material weaknesses that have
caused management to conclude that, as of December 31, 2024, our disclosure controls and procedures, and our internal control over financial
reporting, were not effective at the reasonable assurance level. We noted the following deficiencies that we believe to be material weaknesses:
(1) the Company has no formal control process related to the identification and approval of related party transactions; (2) the Company
lacks a formal and complete set of policies and procedures that cover the Company’s internal controls over financial reporting;
(3) the Company did not maintain effective internal controls to assure proper segregation of duties; and (4) the Company has a lack of
resources to evaluate and review appropriate accounting treatment for certain complex areas, such as the treatment of deferred tax assets,
unique transactions, and share based compensation.

38

Changes
in Internal Control over Financial Reporting

There
have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange
Act) or in other factors that occurred during the fourth fiscal quarter of 2024 that have materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting.

ITEM
9B. Other Information

None.

PART
III 

ITEM
10. Directors, Executive Officers and Corporate Governance

Set
forth below are the present directors and executive officers of the Company. There are no arrangements or understandings between any
of the directors, officers and other persons pursuant to which such person was selected as a director or an officer.

    Name
     
    Age
     
    Position
  
    Eric
    Healy
     
    41
     
    Chief
    Executive Officer, Chairman of the Board
  
    John
    Dalfonsi
     
    59