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BranchOut Food

BOF on Nasdaq. Market value $61m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

What to watch out for

Read the warning sign in its own filings

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 25 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

  • Kaufman Kapital LLC
    Passive investor
    at least 10.0%0.0 pts
    (filed with 1 related holder)
    Since 30 June 2026
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: Additional Loan. On June 30, 2026, the Issuer borrowed an additional $1,000,000 from Kaufman Kapital pursuant to a Third Amended and Restated Senior Secured Promissory Note in the principal amount of…

    Read the filing
  • 7.8%
    Since 2 June 2026
  • BARD ASSOCIATES INC
    Passive investor
    7.7%
    Since 13 November 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $152 of shares on the open market.

  • Jones Byron Riche
    Director
    Bought
    Date
    16 June 2026
    Shares
    45
    Price
    $3.38
    Value
    $152

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

2 serious warning signs in BranchOut Food’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 31 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 9 later 8-Ks.

  • Doubt it can keep going

    Serious

    The company or its auditor warned it may not have enough money to last the next year.

    “These factors raise substantial doubt about the Company’s ability to continue as a going concern.”
    Show the full paragraph
    As shown in the accompanying condensed consolidated financial statements, as of June 30, 2026, the Company has incurred recurring losses from operations resulting in an accumulated deficit of $ 28.2 million, with working capital of approximately $ 241,000 , which may not be sufficient to sustain operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management is actively pursuing new customers and continues to expand the Company’s product mix to increase revenues. In addition, the Company is currently seeking additional sources of capital to fund short-term operations. Management believes these factors will contribute toward achieving profitability.

    From the 10-Q filed 13 August 2026, Part I, Item 1. Financial Statements. Read it in the filing

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

    “As a result of these material weaknesses, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of June 30, 2026.”
    Show the full paragraph
    As previously disclosed in Item 9A, “Controls and Procedures,” of our Annual Report on Form 10-K for the year ended December 31, 2025, management identified material weaknesses in our internal control over financial reporting. As a result of these material weaknesses, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of June 30, 2026. These material weaknesses remained outstanding as of June 30, 2026.

    From the 10-Q filed 13 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.