Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1117

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 1117
---
ated EBITDA 
    $(3,730,568) 
    $(3,278,302)

    Reconciliation of net
    earnings before income tax expense: 

    Consolidated EBITDA 
    $(3,730,568) 
    $(3,278,302)
  
     EBITDA 
    $(3,730,568) 
    $(3,278,302)

    Depreciation 
     (171,873) 
     (223,856)
  
    Interest income 
     14,156  
     11,719 
  
    Interest expense 
     (863,231) 
     (435,271)
  
    Consolidated
    net loss before income tax expense 
    $(4,751,516) 
    $(3,925,710)

Note
23 – Subsequent Events

The
Company evaluates events that have occurred after the balance sheet date through the date hereof, which these financial statements were
issued. No events occurred of a material nature that would have required adjustments to or disclosure in these financial statements except
as follows:

ATM
Offering

On
February 18, 2025, the Company entered into entered into a First Amendment to the ATM Agreement to increase the aggregate offering price
of the Shares that the Company may sell under the ATM Agreement to up to $5,000,000. Subsequent to December 31, 2024, the Company sold
a total of 1,303,115 shares of common stock, including 182,693 shares authorized, but unissued at December 31, 2024, at prevailing market
prices under the ATM Agreement for aggregate net proceeds of $2,407,448, after deducting applicable expenses, including a commission
paid to Alexander Capital equal to 3% of the gross proceeds from the sale of the shares.

Exercise
of Warrants

On
February 14, 2025, the Company received aggregate proceeds of $38,157 on the exercise of Representative’s Warrants to purchase
an aggregate of 39,747 shares of common stock.

F-30

ITEM
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None

ITEM
9A. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

We
maintain a system of disclosure controls and procedures that is designed to ensure that information required to be disclosed by us in
the reports we file or furnish